Question: Which results in a lower total interest charge, borrowing $620 to be repaid 12 months later as a single-payment loan or borrowing $620 to be

Which results in a lower total interest charge, borrowing $620 to be repaid 12 months later as a single-payment loan or borrowing $620 to be repaid as a 12-month Click on the table icon to view the MILF F table installment loan? Ass me a simple interest method of calculation at 12 percent interest Defend your answer The amount of interest on the single-payment loan is $ 744 (Round to the nearest cent ) The amount of interest on the 12-month installment loan is s(Round to the nearest cent)

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