Question

Maria is considering buying a television and a refrigerator for her new apartment. Her monthly budget is $200. Maria will pay an extra if she uses the rent-to-own program to buy the television, rather than waiting until she saves up enough money to pay cash for it. If she saves her money and pays cash, she can purchase a refrigerator in .

Answer 1

Answer:

Explanation:

Maria will pay an extra amount of $924 to &951  to buy the television, rather than waiting until she saves up enough money to pay cash for it.

If Maria saves her money and pays cash, she can own a refrigerator in 4 months.

There are 52.3 weeks in a year, and depending on when she buys it, she can manage to make 52 or 53 payments that would make a total of $1404  a year or $1431  a year, if paying cash is $480, the difference would be either $924 or $951.

The refrigerator costs $800 and with the budget, she has a month, she can buy one after 4 months.

4 months at $200 a month= $800