You can either pay $5.60 \%$ simple interest on a loan for one year, or pay a $\$ 35$ fee to reduce the rate to $4.90 \%$. What is the least amount to borrow that would make the $\$ 35$ fee option a better choice?

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The Answer of You can either pay $5.60 \%$ simple interest on a loan for one year, or pay a $\$ 35$ fee to reduce the rate to $4.90 \%$. What is the least amount to borrow that would make the $\$ 35$ fee option a better choice?

You Can Either Pay 5.60%5.60 \%5.60% Simple Interest on a Loan for One Year, or Pay

You Can Either Pay $5.60 \%$ Simple Interest on a Loan for One Year, or Pay