Question

Choose the correct answers for (a) the total installment price, (b) the carrying charges, and (c) the number of months needed to save the 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

a. $2145.00
$2149.00
$2147.00
b. $149.00
$151.00
$147.00
c. 14
13
15

Answer 1

Explanation:

Given:Cash price = 1,998143 per month for 15 monthsa) total installment price:143 x 15 = 2,145b) the carrying charges2,145 - 1998 = 147c) number of months needed to save the money at the monthly rate.1,998 / 143 = 13.97 or 14 months.

Answer 2

Given:
Cash price = 1,998
143 per month for 15 months

a) total installment price:
143 x 15 = 2,145

b) the carrying charges
2,145 - 1998 = 147

c) number of months needed to save the money at the monthly rate.
1,998 / 143 = 13.97 or 14 months.