Question

Modern Electronics offers a one-year monthly installment plan for a big screen TV. The payment for the first month is 882, and then it increases by 4% each month for the rest of the year. Which expression can be used to find the total amount paid in the first 12 months?

Answer 1

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Answer: A

$62=\frac{12(1.04^{12}-1) }{1.04-1}$

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