For a bank loan assuming a one-year repayment period and 13% interest, the total cost is ?" (Round to

the nearest cent.)

For the add-on loan method with one-year repayment period and 11% interest, the monthly payment is $ (Round to the nearest cent.)

For the add-on loan method with one-year repayment period and 11% interest, the total cost is $ (Round

to the nearest cent.)

If Shirley pays the bank loan back after six months, she will "save" (Round to the nearest cent.)

If Shirley pays the add-on loan back after six months, she will receive a rebate of

Shirley, a recent college graduate, excitedly described to her older sister the $1,880 sofa, table, and chairs she found today. However, when asked she could not tell her sister which interest calculation method was to be used on her credit-based purchase. Calculate the monthly payments and total cost for a bank loan assuming a one-year repayment period and 13 percent interest. Now, assume the store uses the add-on method of interest calculation Calculate the monthly payment and total cost with a one-year repayment period and 11 percent interest. Using the information above, how much interest will Shirley "save" or be rebated if she can repay the loans after six months? Note: Round intermediate computations to at least five (5) decimal places. Click on the table icon to view the MILPF table For a bank loan assuming a one-year repayment period and 13% interest, the monthly payment is $ nearest cent.) (Round to the