Veronique and Lily each bought a piece of luggage that had the same price in different stores. The table below shows how they
will pay for the item.
Name
Payment for Purchases
Payment Type Payment Amount Number of Months to Pay
(Including Finance
for Item
Charges)
Store financed
10
Credit card
$35
7
Veronique
Lily
Who made the better financial decision and why?
Veronique because her payments are lower.
Veronique because her final cost, including finance charges, is less than Lily's.
Lily because she is paying off her purchase sooner.
Lily because her final cost, including finance charges, is less than Veronique's.