Question: The local electronics store is offering a promotion 1-year: same as cash, meaning that you can buy a TV now, and wait a year to

The local electronics store is offering a promotion "1-year: same as cash," meaning that you can buy a TV now, and wait a year to pay (with no interest). So, if you take home a $ 1,200 TV today, you will owe them $1,200 in one year. If your bank is offering 4.1 % interest, what is the true cost of the TV to you today? The true cost of the TV to you today is ? (Round to the nearest cent.)

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