A person goes to a small store that sells household items in the town where he lives, wants to purchase a TV whose cash cost is $12,000 but does not have that amount available, so he asks the seller to make a purchase plan. on credit for six months. The seller answers that the plan he can offer is the payment of six equal monthly payments, the first would be made at the end of the first month after the purchase; Likewise, he informs him that the interest charged by the store is 3% per month. Determine if it is a Fair plan that the seller offers you.

Answer rating: 100% (QA)

To determine if the plan offered by the seller is fair we need to calculate the total cost of p... View the full answer