Mathematics, 14.07.2020 16:01, sugandiwoodbine

James wants to buy a gaming computer priced at $3,774, but he is not able to pay the amount in full. The shop, though, offers purchase plans to help customers afford their products.

The annual interest rates on offer are below. Simple interest will be calculated on each loan.

Payment PeriodInterest Rate
12 months14.8%
24 months11.6%

James chooses to go with the 12-month plan.

How much will the shop earn in interest? (Answers to whole dollars)
$

What is the total amount that James will pay for the computer?
$

If the repayments are split evenly over the year, how much will James pay per month?
$

Answers: 2

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James wants to buy a gaming computer priced at $3,774, but he is not able to pay the amount in full....