Answered

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Choose the correct answers for (a) the total installment price, (b) the carrying charges, and (c) the number of months needed to save money at the monthly rate to buy the item for its cash price.
A bunk bed with a cash price of $1,998, at $143 per month for 15 months

Sagot :

fichoh

Answer:

$2,145 ; $147 ; 14 months

Step-by-step explanation:

Given that :

The cash price, that is, the amount that would be paid if customer is to pay the entire amount item is worth at once = $1998

Monthly payment = $143

Period = 15 months

The total installment price ; total amount paid on a monthly pay for 15 months :

(monthly payment * period)

($143 * 15)

= $2,145

The carrying charge :

Installment pay - Cash amount

$(2,145 - 1,998)

= $147

The number of month needed to save at Monthly rate to buy item at it's cash price :

Cash price / monthly payment

$1998 / $143

= 13.97

= 14 months

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