Subjects finance

Interest Comparison 53843E

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Interest Comparison 53843E


1. The problem asks to compute and compare the interest for each offered package. 2. To solve this, we use the simple interest formula: $$I = P \times r \times t$$ where $I$ is the interest, $P$ is the principal amount, $r$ is the annual interest rate (in decimal), and $t$ is the time in years. 3. Since the problem does not provide specific values for $P$, $r$, and $t$, we cannot compute exact interest amounts. However, the method is to plug in the values for each package into the formula and calculate $I$. 4. After computing the interest for each package, compare the values to determine which package offers the highest or most favorable interest. 5. Choosing a package depends on the highest interest earned or other factors like payment flexibility. 6. Creating your own installment package would involve selecting a principal, interest rate, and time period that balance affordability and returns. Since no specific data is given, this is the general approach to solve the problem.