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9) Tariq is buying a laptop computer. The cost of the computer is $2180. He wants to pay $500 cash and finance the remainder. He
9) Tariq is buying a laptop computer. The cost of the computer is $2180. He wants to pay $500 cash and finance the remainder. He has two options: Option A: Store Credit with 13\%/a simple interest for 2 years Option B: Credit Card: 12\%/a compounded monthly for 2 years Which option should he choose? Justify your answer. 10) Ms. Malik borrowed $450000 from the bank to purchase a cottage. If the bank charges 5.8% / a compounded monthly, she will take 22 yrs. To pay off the loan. How much will each monthly payment be
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