3.1 Briefly explain what APR is and what someone shopping around for credit might use it for.
3.2 Fill in Table 2 using the Borrowing and saving calculator to calculate the missing figures and show your workings.
Table 2 Total interest options Monthly payment Repayment period Total interest
Option A
Option B
3.3 Describe one advantage and two disadvantages of Option A over Option B
Part B
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