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Dorothy lacks cash to pay for a $600.00 dishwasher. She could buy it from the store on credit by making 12 monthly payments of $50.58.
Dorothy lacks cash to pay for a $600.00 dishwasher. She could buy it from the store on credit by making 12 monthly payments of $50.58. The total cost would then be $606.96. Instead, Dorothy decides to deposit $50.00 a month in the bank until she has saved enough money to pay cash for the dishwasher . One year later, she has saved $630.00-$600.00 in deposits plus interest When she goes back to the store, she finds the dishwasher now costs $639.00. Its price has gone up 6.50 percent Was postponing her purchase a good trade-off for Dorothy? Yes O No ho
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