Please can someone solve this question?
1 answer:
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Part A:
Given that <span>a dinette table with a cash price of $200 is purchased at $8.50 down and $11.00 per month for 24 months
The total installment price is given by
Part B:
The carrying charges is given by the total installation price minus the cash price.
From part a, we obtained that the total installation price is $272.50 and given that the cash price is $200.
Therefore, the carrying charges is given by
$272.50 - $200.00 = $72.00
Part C:
If the money is to be saved at $11 per month to be able to purchase the table at the cash price, the number of months it will take to be able to save $200 at $11 per month is given by
Therefore, it will take 19 months </span><span>to save the money at the monthly rate needed to buy the item for its cash price.</span>
Given that <span>a dinette table with a cash price of $200 is purchased at $8.50 down and $11.00 per month for 24 months
The total installment price is given by
Part B:
The carrying charges is given by the total installation price minus the cash price.
From part a, we obtained that the total installation price is $272.50 and given that the cash price is $200.
Therefore, the carrying charges is given by
$272.50 - $200.00 = $72.00
Part C:
If the money is to be saved at $11 per month to be able to purchase the table at the cash price, the number of months it will take to be able to save $200 at $11 per month is given by
Therefore, it will take 19 months </span><span>to save the money at the monthly rate needed to buy the item for its cash price.</span>