Answer:
See below
Step-by-step explanation:
- Initial Principal P₀ = 1000
- End of first period = 1000 + 1000*0.02/4 = 1005
- End of second period = 1005 + 1000*0.02/4 = 1010
- End of third period = 1010 + 1000*0.02/4 = 1015
- End of fourth period = 1015 + 1000*0.02/4 = 1020
Cash is always king. It will cost you more if you pay interest, but you may not have enough money to buy this very over priced $13,499 TV. I say shop around for a cheaper TV.
1/4 of 200 is bigger because it is 50 and 40% of 120 is 48
