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A new homeowner is purchasing a living room set for $2,784 and must decide between two financing offers. Offer 1: $225 down payment, 24.90% interest

A new homeowner is purchasing a living room set for $2,784 and must decide between two financing offers. Offer 1: $225 down payment, 24.90% interest rate, compounded monthly, for 3 years, with no payments due for 6 months and then fixed payments of $130.58 for the remainder of the loan term Offer 2: $500 down payment, 22.90% interest rate, compounded monthly, for 3 years, with no payments due for 12 months and then fixed payments of $149.94 for the remainder of the loan term Part A: What is the total cost of offer 1? Explain which technology you used to solve and each step of your process. (3 points) Part B: What is the total cost of offer 2? Explain which technology you used to solve and each step of your process. (3 points) Part C: Which financing offer should the new homeowner choose? Explain your reasoning. (4 points)

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