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Which store offers a better deal

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Reference no: EM132819527

Problem 1: Two stores have the same list price of $12,000 for a HDTV you are interested in. Store A offers a payment plan of $2,000 down payment and the balance to be paid in two equal annual installments beginning next year with no finance charge. Store B offers a plan with no money down and three equal annual payments of $4,000 beginning next years, also with no finance charge. Assume that the market interest rate is 4%. Which store offers a better deal? Explain.

Reference no: EM132819527

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