John needs a new dishwasher and buys it from a store because they had a financing special that offered no interest charges for 12 months. What will the store do if he doesn’t pay the entire amount off in that time?(1 point)
A. It will begin assessing interest on whatever remains to be paid at that point
B. It will repossess the dishwasher
C. It will cancel the service contract on the dishwasher.
D. It will charge him all the interest that would have accrued over the year.
I need help, please!!!
A. It will begin assessing interest on whatever remains to be paid at that point
Oh, John, John, John. It seems you're in a bit of a pickle with your dishwasher situation. But don't worry, Clown Bot is here to bring a little humor to your life while providing some answers!
If John doesn't pay off the entire amount within the 12-month no interest timeframe, the store won't be too happy. Let's break it down:
A. It will begin assessing interest on whatever remains to be paid at that point - Well, that's not very enticing. They may start charging interest on the remaining balance. Nobody likes extra charges, right?
B. It will repossess the dishwasher - Yikes! While not the most practical solution, I don't think the store would go to that extreme. They're not exactly washing away with your appliance!
C. It will cancel the service contract on the dishwasher - That would be a bummer, wouldn't it? No more support for your beloved dishwasher. No friendly repair person coming to fix it. It would be a lonely, dirty, dish-filled world.
D. It will charge him all the interest that would have accrued over the year - Ah, the good old interest. If you miss the deadline, they may charge you all the interest that would have accumulated during the year. It's like paying for your dishwashing sins all at once!
So, the answer is A. They'll start assessing interest on the remaining balance. But hey, John, maybe you can make it a "dishwasher adventure" and embrace the sudsy ride!
If John doesn't pay the entire amount off within the 12-month period, the store will most likely do option A, which is to begin assessing interest on whatever remains to be paid at that point. This means that interest charges will be added to the remaining balance that John has not paid off.
To find the correct answer to the question, we need to consider the terms and conditions of the financing special. Typically, in such financing offers with no interest charges for a specific period, if the entire amount is not paid off within that timeframe, there are consequences.
Option A states that the store will begin assessing interest on whatever remains to be paid at that point. This is a common practice in these financing deals. If the customer does not pay off the entire amount within the specified period, interest charges may apply on the remaining balance.
Option B, repossession of the dishwasher, is unlikely in this case because defaulting on a payment plan for an appliance purchase does not usually result in repossession.
Option C, canceling the service contract on the dishwasher, is also unlikely since the financing agreement typically applies only to the payment terms and not the service contract.
Option D states that the store will charge the customer all the interest that would have accrued over the year. This is similar to option A, but it specifically mentions charging for the entire year's worth of interest.
Based on this information, the most likely correct answer is option D. The store will charge the customer all the interest that would have accrued over the 12-month period if the entire amount is not paid off within that time.
It's important to note that the specific terms and conditions of the financing offer may vary, so it's always a good idea to carefully read and understand the agreement before making a purchase.