Question

12 POINTS PLEASE HELP!

Lois plans to buy $105 Father's Day present, and holiday falls on the third sunday of June. She can afford to put it on layaway 20% down payment and $16 a month after that. If payments are due at the beginning of each month, when should Lois make her first monthly payment

A.Feb 1
B.Jan 1
C.Dec 1
D.Mar 1

Answer 1

b January 1
hope i helped

Answer 2

B. Jan 1

Step-by-step explanation:

Total Cost of the Present=$105

Down Payment=20%

20% of 105=0.2 X 105=$21

Total Balance to be Paid =105-21=$84

Since she can afford to make a payment of $16 at the beginning of every month, we divide the balance to be paid by 16.

84÷16=5.25

That means Lois must make her first monthly payment 6 Months earlier including June since Father's day is 3rd Week of June.

Her First Monthly Payment should be made Jan 1.