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Penelope needs to borrow $9000. She can borrow the money at 4.5% simple interest for...

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Basic Math

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Penelope needs to borrow $9000. She can borrow the money at 4.5% simple interest for 3 yr or she can borrow at 5% with interest compounded continuously for 3 yr.(a) How much total interest would Penelope pay at 4.5% simple interest?(b) How much total interest would Penelope pay at 5% interest compounded continuously?(c) Which option results in less total interest?

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