Barrett Rowe
04/01/2024 · Primary School
6) The Stereo Warehouse is advertising "No money down and pay no interest for one year! Peter read the fine print and discovered that, although you pay no interest for one year, interest is calculated at \( 12 \% \) per year, compounded monthly, on the price of the merchandise. What would Peter have to pay for an \( \$ 1150 \) LCD TV after the one-year interest free period is over?
UpStudy ThothAI Solution
Tutor-Verified Answer
Quick Answer
After the one-year interest-free period, Peter would have to pay approximately $1296.83 for the LCD TV.
Step-by-step Solution
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text
Enter your question here…
By image
Re-Upload
Submit