Question: Please answer a,b,and c Penelope needs to borrow $ 12,000. She can borrow the money at 6.5% simple interest for 5 yr or she can
Please answer a,b,and c

Penelope needs to borrow $ 12,000. She can borrow the money at 6.5% simple interest for 5 yr or she can borrow at 5% with interest compounded continuously for 5 yr. (a) How much total interest would Penelope pay at 6.5% simple interest? (b) How much total interest would Penelope pay at 5% interest compounded continuously? (c) Which option results in less total interest? Part: 0 / 3 Part 1 of 3 (a) How much total interest would Penelope pay at 6.5% simple interest? At 6.5% simple interest, the total interest Penelope would pay is $ X
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