Answer:
(a) $1395
(b) $145
(c) $14
Step-by-step explanation:
Cash price of the wedding dress = $1250
time = 15 months , and monthly payment = $93
(a) Total investment price = Monthly payment × Time
= 93 × 15
=$1395
(b) the carrying charges for the wedding dress = total investment price - actual cash price of the dress
= 1395 - 1250
= $145
(c) No. of months needed to save the money to buy the dress at its cash price on a monthly rate :