Which results in a lower total interest charge, borrowing $790 to be repaid 12 months later as a single-payment loan or borrowing $790 to be repaid as a 12-month installment loan? Assume a simple...

Which results in a lower total interest charge,<br>borrowing $790 to be repaid 12 months later<br>as a single-payment loan or borrowing $790<br>to be repaid as a 12-month installment loan?<br>Assume a simple interest method of<br>calculation at 13 percent interest.<br>

Extracted text: Which results in a lower total interest charge, borrowing $790 to be repaid 12 months later as a single-payment loan or borrowing $790 to be repaid as a 12-month installment loan? Assume a simple interest method of calculation at 13 percent interest.

Jun 07, 2022

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Which results in a lower total interest charge, borrowing $790 to be repaid 12 months later as a single-payment loan or borrowing $790 to be repaid as a 12-month installment loan? Assume a simple...

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