question archive ?Shirley, a recent college? graduate, excitedly described to her older sister the ?$1,150 ?sofa, table, and chairs she found today
?Shirley, a recent college? graduate, excitedly described to her older sister the ?$1,150 ?sofa, table, and chairs she found today
Subject:FinancePrice: Bought3
?Shirley, a recent college? graduate, excitedly described to her older sister the ?$1,150 ?sofa, table, and chairs she found today.? However, when asked she could not tell her sister which interest calculation method was to be used on her? credit-based purchase. Calculate the monthly payments and total cost for a bank loan assuming a? one-year repayment period and 13 percent interest.? Now, assume the store uses the? add-on method of interest calculation. Calculate the monthly payment and total cost with a? one-year repayment period and 11 percent interest. Using the information? above, how much interest will Shirley? "save" or be rebated if she can rebated the loans after six? months?
If Shirley pays the bank loan back after six? months, she will? "save" ?$
