Question: 6. A store offers two payment plans. Under the installment plan, you pay 25% down and 25% of the purchase price in each of the

6. A store offers two payment plans. Under the installment plan,

6. A store offers two payment plans. Under the installment plan, you pay 25% down and 25% of the purchase price in each of the next 3 years. If you pay the entire bill immediately, you can take a 10% discount from the purchase price. Which is a better deal if you can borrow or lend funds at a 5% interest rate

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