Zahid Purchased a Large-Screen TV at a Local Store in December

question 48

Multiple Choice

Zahid purchased a large-screen TV at a local store in December, that had advertised, "No payment for 6 months." Amount to be paid after 6 months is $1495 plus HST (13%) plus an administration fee of $79. If money is worth 2.5%, what is the actual cost of the TV to Zahid on the day of the purchase?

• A) $1746.52
• B) $1790.45
• C) $1476.54
• D) $1554.57
• E) $1768.35

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Definitions:

Corporate Equity

The ownership interest represented by shares of a company's stock.

Net Worth

The total assets minus total liabilities of an individual or company, indicating financial health.

Liabilities

Financial obligations or debts owed by a company or individual.

Commercial Banks

Financial institutions that provide various financial services, including accepting deposits, offering business and personal loans, and other investment products.