You have just decided to buy a sofa for 17,000,000Tshs. At the store the sales person offers you to divide your payment over 12 months without interest . You will pay 17,000,000/12 per month starting next month plus an administrative fee of 35,000 Tshs per month to be added to your monthly bill. If your alternative is to use your credit card with an APR of 12% how much do you pay for sofa? (Hint: calculate the present value of the offer and compare it paying 17,000,000 upfront today.