Sometimes, deciding how you will pay for a large purchase is easy. for example, if you were buying a car and you didn’t have enough cash, you would get a car loan. however, sometimes the decision is a little more difficult. for example, if you were adding a deck onto the back of your house, how would you pay for the supplies? would you use your credit card, get a home equity loan, or take a personal loan? when the decision is more difficult, it is smart to use the paced decision-making process. in this project, you will use the decision-making process to two people, emmitt and carmen, make a decision about how to pay for two large purchases. objectives use the decision-making process to identify the most cost-effective option for making large purchases. purchase one read the following scenario. research options for payment, and use the paced decision-making model to decide how emmitt should pay for the television. remember, the paced steps are to define the problem, list the alternatives, select criteria, evaluate the alternatives, and make a decision. example: emmitt wants to buy a new flat screen television. the cost of the television is $539. he has a credit card with a credit limit of $1,000 and an apr of 22 percent. the store offers him store credit with six months no interest and an apr of 22 percent. this means if he pays the balance in the first six months, he doesn’t pay any interest. if he doesn’t pay off the balance in the first six months, then he starts paying 22 percent interest on the balance thats left. since he just paid off his car loan, he can afford to pay $100 each month. this means it would be possible for him to pay the balance within six months. he also has a great credit score and could obtain a personal loan. remember, the goal is to find the most cost-effective option for purchasing the tv. how should emmitt pay for the television? part a: how should emmitt pay for the television? part b: which car loan should carmen choose?