Julia has thought about purchasing a television for her children, and is convinced that the options that offer her "months without interest" are the ones that best suit her. Her options are: a. Buy it at "The corner store" for only $34,999.00 in cash, or in 7 monthly payments of $5,300.00. b. Buy it in "Recognized Stores" for only $35,904.00 in cash, or in 6 interest-free monthly payments. The interest rate on the credit is 15% per year. Do you think Julia is right? Why?

Formula:

CoursHeroTranscribedText

A = R(1 + i) (1 - (1 + i)* +9)