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SIMPLE VS ADD ON INTEREST: Jim Hopper wants to take out a personal loan to fix up some damage in his home. He gets approval
SIMPLE VS ADD ON INTEREST: Jim Hopper wants to take out a personal loan to fix up some damage in his home. He gets approval for an $ year loan.
a What is the monthly loan payment and total amount of interest paid under the SIMPLE INTEREST method? For full credit, please INCLUDE a screenshot of the online calculatoramortization table you used.
b Under the SIMPLE INTEREST METHOD, please show calculations for how to determine the interest paid for the first monthly loan payments. Show ALL calculations for full credit.
c What is the monthly payment and total amount of interest paid under ADDON interest method? Show ALL calculations for full credit.
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