(Based on class notes for section 3.1) Recall from assignment 1 that Rusty will be away from his $250,000 condo for 3 years.A real estate agent has told him the condo could be rented for $1,500 per month.In assignment 1 you found the corresponding simple interest rate.By finding a simple interest rate (rather than a compound interest rate) what were we assuming about the upkeep of the apartment and the amount of rent being charged each month?Another way to phrase this question is: what are the differences in the rent scenario which corresponds to simple interest and the rent scenario which corresponds to compound interest?[You are being asked for an explanation, not a computation.You may include example computation(s) if you wish, but they are not necessary.]