The local electronics store is offering a promotion 1-year: same as cash, meaning that you can buy
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The local electronics store is offering a promotion “1-year: same as cash,” meaning that you can buy a TV now, and wait a year to pay (with no interest). So, if you take home a $1250 TV today, you will owe them $1250 in one year. If your bank is offering 3.7% interest, what is the true cost of the TV to you today?
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Although the store offers 1year same as cash its not truly the same as paying cash today because you ...View the full answer
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9781292437156
5th Global Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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