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Which results in a lower total interest charge, borrowing $ 7 9 0 to be repaid 1 2 months later as a single - payment
Which results in a lower total interest charge, borrowing $ to be repaid months later as a singlepayment loan or borrowing $ to be repaid as a month installment loan? Assume a simple interest method of calculation at percent interest. Defend your answer. Note: Round intermediate computations to at least five decimal places. Click on the table icon to view the Monthly Installment Loan Payment Factor MILPF table: The amount of interest on the singlepayment loan is $ Round to the nearest cent. Click on the following icon in order to copy its contents into a spreadsheet. tableMonthly Installment Loan Tables $ loan with interest payments compounded monthlyInterest
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Which results in a lower total interest charge, borrowing $ to be repaid months later as a singlepayment loan or borrowing $ to be repaid as a month installment loan? Assume a simple interest method of calculation at percent interest. Defend your answer.
Note: Round intermediate computations to at least five decimal places.
Click on the table icon to view the Monthly Installment Loan Payment Factor MILPF table:
The amount of interest on the singlepayment loan is $
Round to the nearest cent.
Click on the following icon in order to copy its contents into a spreadsheet.
tableMonthly Installment Loan Tables $ loan with interest payments compounded monthlyInterest
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Get the answers you need in no time with our AI-driven, step-by-step assistance
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