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Damon is purchasing a new computer that costs $1800. He has two different options to finance the purchase and he wants to pay off the
Damon is purchasing a new computer that costs $1800. He has two different options to finance the purchase and he wants to pay off the debt in two years by making regular monthly payments. Option A: Finance the purchase through the store at an interest rate of 13.2%, compounded daily, with an immediate $75 rebate. Option B: Finance the purchase with a line of credit at an interest rate of 12.4%, compounded daily. What is the total cost of the cheaper option?
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