You decide to lend your friend Kyle $500 for 6 months. He has agreed to pay 8% APR. How much will he repay at the end of the 6 months? Now you have decided to loan Bristo $600, but she will only agree to pay 6.5% APR. In order to earn exactly as much interest from her as you did from Kyle, what does the term of her loan need to be?
