Answer: $1,077.50 or $1,078.06 (see below)
Step-by-step explanation:
Since the interest is applied after 1 year and the debt was repaid in 8 months, no interest was accrued on the $2,550 loan.
Thus, the price of the tv is: $2,550 - $1,422.50 = $1,077.50
Note: If interest is charged for the 8 months (3/4 of a year), then the interest added to the loan amount is: 0.75(3/4) = $0.56
⇒ the the price of the tv is: $1,077.50 + $0.56 = $1,078.06
