An Appliance Store Sells a TV for $1,200 and Gives

question 72

Multiple Choice

An appliance store sells a TV for $1,200 and gives their customers a full 3 years to pay for the TV. If interest rates are 5%, what is the equivalent sales price of the TV when the customer takes the full 3 years to pay for it?

• A) $991.72
• B) $1,036.61
• C) $1,104.14
• D) $1,389.15

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Definitions:

Limited Liability Partnerships

A business structure where partners have limited liabilities, protecting each partner's personal assets from the debts and liabilities of the partnership.

Professional Malpractice

Failure by a professional person to provide services with the competent and skillful level of care that is required in their profession, leading to harm or loss.

Private Securities Litigation Reform Act

A 1995 U.S. law aimed at reducing frivolous or unwarranted securities lawsuits through various procedural and substantive reforms.

Illegal Act

An illegal act refers to an action or conduct that is prohibited by law and subject to punishment or sanctions by legal authorities.