Business, 29.03.2020 16:25, magicalforlife

Melissa wants to buy a living room set that cost $1800. She could get a 3-year personal loan from a bank at a simple interest rate of 8.7%. She could also get a 3-year loan from a finance company that charges 8.5% compounded annually. Which answer correctly compares the total cost of the loan with simple interest and the loan with compound interest?

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Melissa wants to buy a living room set that cost $1800. She could get a 3-year personal loan from a...