You decided to buy a new TV to watch college football this year. If you open a store credit card at Best Buy, you will receive a 10% discount on the $1,000 TV. The balance on your new credit card will be $900 after the purchase. Assume you make minimum payments of $25 and the credit card charges an interest rate of 26%. How long will it take you to pay off the TV and what is the total interest you will end of paying? Alternatively, your good friend David offers you a $1,000 loan at 15% but you would have to pay full price for the TV. Assuming the same minimum payments of $25 what is the total time needed to pay off the loan and the total interest paid if you borrow from David? Assume the credit card compounds daily and the loan has monthly compounding. How should you pay for your TV?