Mathematics

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3. Constance is planning to pay for part of her college using a $12,000 student loan. She is comparing the total costs of two loan options. Option A is to borrow the $12,000 for 5 years at 4.75% annual compound interest. Option B is to borrow the $12,000 for 4 years at 5% annual compound interest. Which of the following is closest to the difference in total cost of Option A compared to Option B?
A $450.00
B $529.87
C $547.84
D $867 72

Answer :

Avarageous07go Avarageous07go

Answer: 450. 00

Step-by-step explanation:

take the percent of each and multiply it by the years. do it for both. and add the 12000. then subtract both from each other and you get 450.

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