1) The amount of interest on the single payment loan is ___%

2)The amount of interest on a 12 month loan

Which results in a lower total interest charge, borrowing $1,660 to be repaid 12 months later as a single payment loan or borrowing $1,660 to be repaid as a 12 month installment loan? Assume a simple interest method of calculation at 11 percent interest. Defend your answer. Click on the table icon to view the MILPF table 13 a The amount of interest on the single payment loan is SL (Round to the nearest cent) - Save 1 Data table Ith 400% 4.25% 4.50% 4.75% 5.00% 5.25% 6 168,62 168.74 168.86 168.98 169 11 169.23 312 85 15 85.26 85.38 85.49 85.61 85.72 18 57.33 57 44 57.56 57.67 57.78 57.89 24 43.42 43.54 43.65 43.76 43.87 43.98 30 35.08 35.19 35 31 35.42 35.53 35.64 36 29.52 29.64 29.75 29.86 29.97 30.08 48 22 58 22. 69 22.80 22.92 23.03 23.14 60 18.42 18.53 18.64 18.76 18.87 18.99 72 15 65 15.76 15.87 15.99 16.10 16.22 84 13 67 13.71 13.90 14.02 14 13 1425 56 12.19 12.31 12.42 1254 12.66 12.78 Print Done Next Save 1 Data table th 10.00% 10.25% 10.50% 10.75% 11.00% 11 25% 11. 50% TERE 171.56 171.68 171.81 171.93 172.05 172.18 172.30 30 87.92 88.03 88 15 88.27 88.38 88.50 88.62 60.06 60.17 60.29 60.40 60.52 60.63 60.75 A 46.14 46.26 46.38 46.49 46.61 46.72 46 84 Acne 37.81 37.93 38.04 38.16 38.28 38.40 38.51 32.27 32.38 32.50 32.62 32.74 32.86 32.98 25.36 25.48 25.60 25.72 25.85 25.97 26.09 21 25 21.37 21.49 21 62 21.74 21.87 21.99 18.53 18.65 18.78 18.91 29.03 19 16 19.29 16 50 16.73 16 86 16.99 17.12 17 25 1739 15.17 15.31 15.44 15.57 15.71 15.84 15.98 . IA A 47 Print Done Which results in a lower total interest charge, borrowing $1,660 to be repaid 12 months later as a single payment loan or borrowing $1,660 to be repaid as a 12 month installment loan? Assume a simple interest method of calculation at 11 percent interest. Defend your answer. Click on the table icon to view the MILPF table 13 a The amount of interest on the single payment loan is SL (Round to the nearest cent) - Save 1 Data table Ith 400% 4.25% 4.50% 4.75% 5.00% 5.25% 6 168,62 168.74 168.86 168.98 169 11 169.23 312 85 15 85.26 85.38 85.49 85.61 85.72 18 57.33 57 44 57.56 57.67 57.78 57.89 24 43.42 43.54 43.65 43.76 43.87 43.98 30 35.08 35.19 35 31 35.42 35.53 35.64 36 29.52 29.64 29.75 29.86 29.97 30.08 48 22 58 22. 69 22.80 22.92 23.03 23.14 60 18.42 18.53 18.64 18.76 18.87 18.99 72 15 65 15.76 15.87 15.99 16.10 16.22 84 13 67 13.71 13.90 14.02 14 13 1425 56 12.19 12.31 12.42 1254 12.66 12.78 Print Done Next Save 1 Data table th 10.00% 10.25% 10.50% 10.75% 11.00% 11 25% 11. 50% TERE 171.56 171.68 171.81 171.93 172.05 172.18 172.30 30 87.92 88.03 88 15 88.27 88.38 88.50 88.62 60.06 60.17 60.29 60.40 60.52 60.63 60.75 A 46.14 46.26 46.38 46.49 46.61 46.72 46 84 Acne 37.81 37.93 38.04 38.16 38.28 38.40 38.51 32.27 32.38 32.50 32.62 32.74 32.86 32.98 25.36 25.48 25.60 25.72 25.85 25.97 26.09 21 25 21.37 21.49 21 62 21.74 21.87 21.99 18.53 18.65 18.78 18.91 29.03 19 16 19.29 16 50 16.73 16 86 16.99 17.12 17 25 1739 15.17 15.31 15.44 15.57 15.71 15.84 15.98 . IA A 47 Print Done