4003093 4003093

23-05-2023
Mathematics

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Keith is buying a car and is taking out a loan in the amount of $10,000. His choices for the loan are a 5-year loan at 8.00% interest compounded annually and a 6-year loan at 9.00% interest compounded annually. What is the difference in the amount of interest Kieth would have to pay for these two loans?

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