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Corrie bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 18% per year compounded monthly. Their monthly payments are $204.80 for 4 years. What is the cash price of her purchase?
1. Identify the type of problem.
a. Future Value with compound interest.
b. Present Value with compound interest.
c. Present Value of an Annuity.
d. Future Value of an Annuity.
e. Future Value with simple interest.
2. Answer the question in the problem.
a. $4,881.09.
b. $5,262.72.
c. $9,261.57.
d. $7,247.31.
e. $6,971.91.

Sagot :

1 the correct answer is c
And 2 is d
:):)h
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