This topic contains a solution. Click here to go to the answer

Author Question: Lee is planning to buy furniture worth $7000 from Leons. He can buy on his MasterCard and pay it ... (Read 186 times)

fnuegbu

  • Hero Member
  • *****
  • Posts: 539

Question 1

Zahid purchased a large-screen TV at a local store in December, that had advertised, "No payment for 6 months." Amount to be paid after 6 months is $1495 plus HST (13%) plus an administration fee of $79. If money is worth 2.5%, what is the actual cost of the TV to Zahid on the day of the purchase?
◦ $1476.54
◦ $1554.57
◦ $1790.45
◦ $1768.35
◦ $1746.52

Question 2

Lee is planning to buy furniture worth $7000 from Leons. He can buy on his MasterCard and pay it within 7 days following the grace period of 21 days. His second option is to buy on the personal (unsecured) line of credit and pay it back after 6 months. His third option is to use secured line of credit and pay it back in 9 months. MasterCard charges an interest rate of 19.9%. Unsecured line of credit charges a rate of prime (3%) plus 3% and secured line of credit charges a rate of prime plus 0.5%. What is his best option?
◦ MasterCard
◦ Either secured or unsecured line of credit.
◦ Secured line of credit
◦ Unsecured line of credit
◦ All options are the same


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by fnuegbu on Jun 6, 2019

ghepp

  • Sr. Member
  • ****
  • Posts: 361
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 44% of students answer this correctly




fnuegbu

  • Member
  • Posts: 539
Reply 2 on: Jun 6, 2019
Excellent


softEldritch

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

For a complete list of videos, visit our video library