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3 years ago

7

Calculate (a) the total installment price, (b) the carrying charges, and (c) the number of months needed to save the money at th

e monthly rate to buy the item below for its cash price (remember to round up). A bicycle with a cash price of $500, offered on the installment plan for $28 per month for 24 months.

2 answers:

ExtremeBDS [4]3 years ago

4 0

Hey, mate and thanks for letting me help.
A is ($28/mo)*(24 mo) = $672.00

B is $672.00 -500.00 = $172.00

C 500/28 ≈ 18.

Genrish500 [490]3 years ago

3 0

A) The total installment price is ($28/mo)*(24 mo) = $672.00

b) The carrying charges are $672.00 -500.00 = $172.00

c) The number of months of saving required is 500/28 ≈ 18.

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