Final answer:
The initial amount owed after purchasing a television for $1200 is $1200, but the total will increase over time due to interest and fees if only the minimum payments are made.
Step-by-step explanation:
The total amount owed on your credit card after purchasing a television set for $1200 would initially be $1200. However, this does not include any interest, fees, or additional purchases that may occur. If the credit card has an Annual Percentage Rate (APR), the total owed can increase each month that the balance remains unpaid due to interest accumulation.
If only minimum payments are made, it will take much longer to pay off the balance, and the total amount paid will significantly exceed the original $1200 due to interest charges. Therefore, it's important to consider the terms of your credit card agreement to understand the full financial implications of your purchase.