James is buying a laptop computer.  The cost of the computer is $4080. He wants to pay $1100 cash and finance the remainder. He has two options:    Option A: Store credit with 13% per year simple interest for 3 years Option B: Credit card: 12% per year compounded monthly 3 year    which option should he choose ? Justify your answer.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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James is buying a laptop computer.  The cost of the computer is $4080. He wants to pay $1100 cash and finance the remainder. He has two options: 

 

Option A: Store credit with 13% per year simple interest for 3 years

Option B: Credit card: 12% per year compounded monthly 3 year 

 

which option should he choose ? Justify your answer. 

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