Solve the problem.You need to borrow $1000 to cover your school expenses for 11 months. After calling several places, you can choose between a money store charging 18% simple interest per year or your family who will charge you 11% per year. How much will you save by borrowing from your family?
A. $110.00
B. $265.83
C. $770.00
D. $64.17
Answer: D
Mathematics
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