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A furniture store is selling a dining room set for a cash price of $979 plus HST. They also have an instalment plan of 36 monthly payments of $33.33, HST included. a) The total cost of using the instalment plan is approximately $1,300 $1,100 $1,200 $1,000

A furniture store is selling a dining room set for a cash price of $979 plus HST. They also have an instalment plan of 36 monthly payments of $33.33, HST included. a) The total cost of using the instalment plan is approximately $1,300 $1,100 $1,200 $1,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 14 A furniture store is selling a dining room set for a cash price of $979 plus HST. They also have an instalment plan of 36 monthly payments of $33.33, HST included. a) The total cost of using the instalment plan is approximately $1,300 $1,100 $1,200 $1,000 A furniture store is selling a dining room set for a cash price of $979 plus HST. They also have an instalment plan of 36 monthly payments of $33.33, HST included. b) It is true that paying cash is about $94 cheaper than paying with the instalment plan. paying with the instalment plan is about $94 cheaper than paying cash. paying with the instalment plan is about $104 cheaper than paying cash. paying cash is about $104 cheaper than paying with the instalment plan.
Transcribed Image Text:Question 14 A furniture store is selling a dining room set for a cash price of $979 plus HST. They also have an instalment plan of 36 monthly payments of $33.33, HST included. a) The total cost of using the instalment plan is approximately $1,300 $1,100 $1,200 $1,000 A furniture store is selling a dining room set for a cash price of $979 plus HST. They also have an instalment plan of 36 monthly payments of $33.33, HST included. b) It is true that paying cash is about $94 cheaper than paying with the instalment plan. paying with the instalment plan is about $94 cheaper than paying cash. paying with the instalment plan is about $104 cheaper than paying cash. paying cash is about $104 cheaper than paying with the instalment plan.
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