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Mary Ellen bought some furniture on credit. Her total came to $1,036.29 and she qualified for interest-free financing. She made a down payment of $36.29 and agreed to pay $50 twice a month until the $1,000 balance was paid. As an alternative option, the store sent her a payment book. She could choose to use the 24 monthly payment coupons and pay the amount of $49.92. What are the differences in the two payment options

Mary Ellen bought some furniture on credit. Her total came to $1,036.29 and she qualified for interest-free financing. She made a down payment of $36.29 and agreed to pay $50 twice a month until the $1,000 balance was paid. As an alternative option, the store sent her a payment book. She could choose to use the 24 monthly payment coupons and pay the amount of $49.92. What are the differences in the two payment options

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Mary Ellen bought some furniture on credit. Her total came to $1,036.29 and she qualified for interest-free financing. She made a down payment of $36.29 and agreed to pay $50 twice a month until the $1,000 balance was paid. As an alternative option, the store sent her a payment book. She could choose to use the 24 monthly payment coupons and pay the amount of $49.92. What are the differences in the two payment options?

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