A department store is offering a washer/dryer for $1480 now or can pay $1500 in 120 days. If interest is 8.52%, determine whether a customer should purchase now or in 120 days.
A) Buy now - Savings of $20.87
B) Buy now - Savings of $22.38
C) No difference between two options
D) Buy later - savings of $20.87
E) Buy later - savings of $22.38

Question

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The Answer of A department store is offering a washer/dryer for $1480 now or can pay $1500 in 120 days. If interest is 8.52%, determine whether a customer should purchase now or in 120 days.
A) Buy now - Savings of $20.87
B) Buy now - Savings of $22.38
C) No difference between two options
D) Buy later - savings of $20.87
E) Buy later - savings of $22.38

A Department Store Is Offering a Washer/dryer for $1480 Now