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James is buying a laptop computer. The cost of the computer is $4080. He wants to pay $1100 cash and finance the remainder. He has two options: Option A: Store Credit with 13% p…

James is buying a laptop computer. The cost of the computer is $4080. He wants to pay $1100 cash and finance the remainder. He has two options: Option A: Store Credit with 13% p…
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James is buying a laptop computer. The cost of the computer is $4080. He wants to pay $1100

cash and finance the remainder. He has two options:
Option A: Store Credit with 13% per year simple interest for 3 years
Option B: Credit Card: 12% per year compounded monthly for 3 years
Which option should he choose? Justify your answer.

asked
User Talha Q
by
8.0k points

1 Answer

2 votes

Answer:

Option B: Credit Card: 12% per year compounded monthly for 3 years

Explanation:

answered
User JoshJoe
by
7.9k points
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