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MATH / Sue can either borrow 10, 000 dollars for 5 years with a simple interest of 7% annually or an interest which compounds annually for 6%. How much more money, rounded to the nearest …

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problem

Sue can either borrow 10,00010,\!000 dollars for 55 years with a simple interest of 7%7\% annually or an interest which compounds annually for 6%6\%. How much more money, rounded to the nearest dollar, would she have to pay back for the more expensive interest than the less expensive interest?
Plain-text mathematical notation (without MathML)
Sue can either borrow 10, 000 dollars for 5 years with a simple interest of 7% annually or an interest which compounds annually for 6%. How much more money, rounded to the nearest dollar, would she have to pay back for the more expensive interest than the less expensive interest?
Original LaTeX notation
Sue can either borrow $10,\!000$ dollars for $5$ years with a simple interest of $7\%$ annually or an interest which compounds annually for $6\%$. How much more money, rounded to the nearest dollar, would she have to pay back for the more expensive interest than the less expensive interest?

level

Level 5

type

Algebra

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Source and history

task_id
b2d789b4-b9a4-5a6b-9a78-495784d1853d
task_key
algebra--test--b2d789b4-b9a4-5a6b-9a78-495784d1853d
task_revision_id
1
config / split
algebra / test

Official source

initial import