Order the answer to: One thousand dollars is borrowed for one year

Homework Assistance business-economics Order the answer to: One thousand dollars is borrowed for one year

business-economics

Order the answer to: One thousand dollars is borrowed for one year

Question One thousand dollars is borrowed for one year at an interest rate of 1%per month. If the same sum of money could be borrowed for the same period at an interest rate of 12% per year, how much could be saved in interest charges?
Subject business-economics
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