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please help with this 2 part question 1,490 at the interest rate of 12.75 The amount of interest on a single payment loan? The amount

please help with this 2 part question
1,490 at the interest rate of 12.75
The amount of interest on a single payment loan?
The amount of interest on the 12 month installment loan ?
image text in transcribed
* Problem P7-3 (similar to) Question Help Which results in a lower total interest charge, borrowing $1,490 to be repaid 12 months later as a single payment loan or borrowing $1,400 to be repaid as a 12 month installment loan? Assume a simple interest method of calculation at 12.75 percent interest. Defend your answer. Click on the table icon to view the MILPF table ! The amount of interest on the single-payment loan is $L (Round to the nearest cent.) for your answer in the answer box and then click Check

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