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(Solution document) Suppose Katy borrowed some amount of money for 44 weeks and Anastasia borrowed the same amount. Katy's loan used the simple interest model with an...


Suppose Katy borrowed some amount of money for 44 weeks and Anastasia borrowed the same amount.

Katy's loan used the simple interest model with an annual rate of 4.7% while Anastasia's loan used the simple discount model with an annual discount of 8.2%. 

At the end of their respective terms, Katy's maturity value was $5250 while Anastasia's was $6020. 

How many weeks was Anastasia's loan for?

Round your answer to the nearest week. 

 







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