Tom is in dire need of a new washing machine. He knows what model he would like to get, but doesn't have the cash to pay for it. He plans to get a line of credit (credit card) at the store when he purchases his new washer. He found four different stores that carry the same washing machine for different prices. The lines of credit they offer also come with different APRs. Tom's primary goal is to minimize his monthly payment as he pays the washing machine off over the next 18 months. From which of the four stores should Tom purchase his washing machine?

Since he wants to minimize his monthly payment, he could get his machine from scratch and dent store, where they sell a nearly damaged goods ( such as small scratches), but the good's price will drop significantly.

Try to find the options with 'scratch and dent' on it

Answer Link

AkshayG AkshayG · Answer 2 · 2020-03-11T11:13:22+01:00

The correct answer is scratch and dent store.

Further Explanation:

“Scratch and dent” is a term that is used in the retail industry which is referred to little damaged products like furniture and appliances. These items have dents and ding those results from warehouse damage or shipping.

Damage is considered as “scratch” and “dent” is mostly cosmetic which means the appliance or other products function properly. The scratches or dents are mainly on the surface and they affect the appliance’s look. There are many cases where the damage will be seen in that area which is not seen when the product is in the home.

In this way, Tom wants to decrease his monthly payment so he can get the machine from the “scratch and dent” store where one can sell damaged goods but the prices of goods will drop extensively.

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Answer Details:

Grade: High School

Topic: Scratch and Dent store

Subject: Economics

Keywords: scratch and dent store, industry, cosmetic, appliance, prices, monthly payment, warehouse, furniture