At the top of the ad, in bold letters, is the following: "No interest & no payments* for 12 months on all 3-D TVs." On right side of the ad is an image of a 3-D TV with the price "$3,399," and the caption "Optimax Plus 1080p true HD resolution for better picture quality. 120Hz refresh rate, dual core processor, content sharing and screen mirroring. Smart TV features let you interact and stream content from the web. Supports apps." At the bottom of the ad, in a small font, is the following: "* Offer is subject to credit approval. No finance charges assessed and no monthly payment required on the promotional purchase if you pay this amount in full by the payment due date as shown on the twelfth (12th) billing statement after purchase date. If you do not, finance charges will be assess on the promotional purchase amount from the purchase date and minimum monthly payment will be required on balance of amount. Standard account terms apply to non-promotional balance and, after the promotion ends, to promotional purchases. APR = 23.73%. APR of 25.65% applies if payment is more than 30 days late. Sales tax will be paid at time of purchase." (1) What happens if the payment from part (b) is late, by less than 30 days, or less than required? You will be charged an interest of 25.65%.You will have to repay the sales tax on the TV. You will be charged an interest of 23.73%.You will have to purchase the TV in full.You will have to return the TV, with no refund. How much additional money (in $) does this amount to? (Round your answer to the nearest cent.) $
At the top of the ad, in bold letters, is the following: "No interest & no payments* for 12 months on all 3-D TVs." On right side of the ad is an image of a 3-D TV with the price "$3,399," and the caption "Optimax Plus 1080p true HD resolution for better picture quality. 120Hz refresh rate, dual core processor, content sharing and screen mirroring. Smart TV features let you interact and stream content from the web. Supports apps." At the bottom of the ad, in a small font, is the following: "* Offer is subject to credit approval. No finance charges assessed and no monthly payment required on the promotional purchase if you pay this amount in full by the payment due date as shown on the twelfth (12th) billing statement after purchase date. If you do not, finance charges will be assess on the promotional purchase amount from the purchase date and minimum monthly payment will be required on balance of amount. Standard account terms apply to non-promotional balance and, after the promotion ends, to promotional purchases. APR = 23.73%. APR of 25.65% applies if payment is more than 30 days late. Sales tax will be paid at time of purchase." (1) What happens if the payment from part (b) is late, by less than 30 days, or less than required? You will be charged an interest of 25.65%.You will have to repay the sales tax on the TV. You will be charged an interest of 23.73%.You will have to purchase the TV in full.You will have to return the TV, with no refund. How much additional money (in $) does this amount to? (Round your answer to the nearest cent.) $
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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- At the top of the ad, in bold letters, is the following: "No interest & no payments* for 12 months on all 3-D TVs."
- On right side of the ad is an image of a 3-D TV with the price "$3,399," and the caption "Optimax Plus 1080p true HD resolution for better picture quality. 120Hz refresh rate, dual core processor, content sharing and screen mirroring. Smart TV features let you interact and stream content from the web. Supports apps."
- At the bottom of the ad, in a small font, is the following: "* Offer is subject to credit approval. No finance charges assessed and no monthly payment required on the promotional purchase if you pay this amount in full by the payment due date as shown on the twelfth (12th) billing statement after purchase date. If you do not, finance charges will be assess on the promotional purchase amount from the purchase date and minimum monthly payment will be required on balance of amount. Standard account terms apply to non-promotional balance and, after the promotion ends, to promotional purchases. APR = 23.73%. APR of 25.65% applies if payment is more than 30 days late. Sales tax will be paid at time of purchase."
(1)
What happens if the payment from part (b) is late, by less than 30 days, or less than required?
You will be charged an interest of 25.65%.You will have to repay the sales tax on the TV. You will be charged an interest of 23.73%.You will have to purchase the TV in full.You will have to return the TV, with no refund.
How much additional money (in $) does this amount to? (Round your answer to the nearest cent.)
$
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