Ask Question

A store sells a television for $1000. Customers can choose to receive a 10% discount and pay it off with a loan at a simple interest rate of 4%, or they can choose to pay full price and pay it off in 3 years with no interest. If the customer pans to pay it off in 3 years, which option is better?

+5
Answers (1)
  1. Today, 06:05
    0
    I=PRT

    P=principal

    r=rate in decimal

    t=time in years

    first one

    10% off is 100 less or 900

    I=900*0.04*3

    I=108

    900+108=1008

    2nd one

    full price is 1000

    1008>1000

    cheaper to just pay it whtout interest
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A store sells a television for $1000. Customers can choose to receive a 10% discount and pay it off with a loan at a simple interest rate ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers