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Help with cpu terms

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I'm thinking of getting my wife a laptop and not sure how cpus compare, not sure what the terms mean. I mean like duo core, quad core..it's kinda explanatory but still how do they rate to like I3, I5 and I7. I guess the I7 is probably the best or close to the best thing out there. Can anyone explain these to me and maybe a comparison of how fast they are.

Also came across this at circuitcity.com's website:

Gateway NV57H48u LX.WYY02.030 Notebook PC - Intel Core i5-2430M 2.4GHz, 4GB DDR3, 500GB HDD, Blu-ray Player/DVDRW, 15.6" Display, Windows 7 Home Premium 64-bit, Black

They want $500 for it...seems pretty good but again I'm not sure. It's still a little higher than what I wanted to spend but am considering it.

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