What is the monthly payment on both offers

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Reference no: EM131965147

Question: A customer is looking to purchase a furniture set with three end tables for $2500. The customer has the option of (a) 12-month special financing with a 20% trade discount or (b) 48-month special financing with a credit card offer and a $500 down payment. The shipping charges are $150 and the interest is 8.75% for both options. What is the monthly payment on both offers? How much will the furniture cost if the customer was to go outside the 12-month or 48-month special financing window? Which option should the customer chose? (Use ordinary interest)

Reference no: EM131965147

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