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Suppose you have the option to borrow money for a $3000 professional computer. The loans are simple-interest loans. You have three options for the
Suppose you have the option to borrow money for a $3000 professional computer. The loans are simple-interest loans. You have three options for the loans: Option A: You pay no interest (0% annual interest rate) if you pay over 1 year. Option B: 10% annual interest for a 2 year loan. Option C: 8% annual interest for a 4 year loan. Calculate the total cost, total interest, and monthly payments for each option. Option A (0% interest for one year) A=$ |=$ pmt=$ Option B (10% interest for two years) A=$ |=$ pmt=$ Option C (8% interest for four years) A=$ |=$ pmt=$
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