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How much would she have had in the bank at the end

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Question - Merilyn, the owner of a small internet hosting business, loaned $4000 to an employee who promised to repay her $4600 after 8 months. Instead of loaning this money, if she had invested it in her local bank where the interest rate was 1.5% less than what she was offering her employee, how much would she have had in the bank at the end of 8 months? HINT: First calculate the interest rate that would have been charged on the loan.

a. $4445.32

b. $4839.22

c. $4439.65

d. $4193.85

e. $4560.00

Reference no: EM132829197

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