How much interest would she have to pay at end of three year

Reference no: EM131972341

Problem

Sally buys a living room set (sofa, chair and coffee table) for $3380 including sales tax. The store offers her a buy now pay later deal. If she does not pay by the end of the three years she will be charged a simple interest at an annual rate of 4%. How much interest would she have to pay at the end of 3 years?

Reference no: EM131972341

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