Question

5. Suppose you buy a $1999 LCD TV on layaway. If you pay 5% down and make $50 payments

every week, how many weeks will it be before you pay off the TV?

Answer 1

Answer: 38 weeks

Explanation:

$1999 * 0.05 = $99.95

1999 - 99.95 = 1899.05

1899.05/50 = 37.981

38 weeks

Answer 2

38 Weeks

Explanation:

1999$ x .05% = 99.95 Down Payment

Remaining Balance = 1899.05

1899.05$ / 50$ = 37.98100

It would approximately take a total of 38 weeks to pay it off!