Assume you purchased a new home theater set for $3,000 on a same as cash...
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Assume you purchased a new home theater set for $3,000 on a same as cash 180-day deal. If you missed the 180-day deadline to pay off your balance and are charged 15% simple interest on the $3,000, how much do you owe?
- Compute how much you would owe on the home theater set after the 180-day deadline.
- What are the pros and cons to the consumer who purchases using a same as cash deal?
- Why might a purchaser fail to pay off his or her balance during the same as cash period?
Assume you purchased a new home theater set for $3,000 on a same as cash 180-day deal. If you missed the 180-day deadline to pay off your balance and are charged 15% simple interest on the $3,000, how much do you owe?
- Compute how much you would owe on the home theater set after the 180-day deadline.
- What are the pros and cons to the consumer who purchases using a same as cash deal?
- Why might a purchaser fail to pay off his or her balance during the same as cash period?
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