Short Answer
Today is March 25th. Snow tires that you need are available today at a sale price of $89.95 each. If you wait until October 1 to buy the tires, you will pay the full price of $107.50 each. If you buy the tires today, you will need to borrow money at 12% per annum simple interest. Should you buy the tires today or wait until October 1? Explain.
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