What is the exact interest on both offers

Reference no: EM131965131

Question: A customer purchased an entire furniture set with three end tables for $2500. She 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 exact interest on both offers? How much will the customer actually pay if they were to go outside the 12-month and 48-month special financing window? Which option should the customer chose? (Use ordinary interest)

Reference no: EM131965131

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