nanaramirex12 nanaramirex12

Today at 3:47 PM
Mathematics

Answered

I am considering loaning my brother $10,000 for one year. He has agreed to pay 6% simple interest on the loan if I don't loan my brother the $10,000 it
will stay in my bank account for the year where it will earn 3% simple interest. What is the opportunity cost to me of the loan to my brother?

Answer :

mathstudent55 mathstudent55

Today at 3:52 PM

Answer:

$300

Step-by-step explanation:

I = prt = $10,000 * 3% * 1 = $300

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