(Solution) - The following payment plans are offered on the purchase of -(2025 Original AI-Free Solution)
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The following payment plans are offered on the purchase of a new freezer:
Plan A $375 cash.
Plan B 8 monthly payments of $55.
Plan C $100 cash down and six monthly payments of $50.
Which payment plan would you choose if interest is 24% annually, compounded monthly, if you are the purchaser? If you are the seller? (Assume ordinary annuities where applicable.)