Question

15. The annual rental charge for office furniture that Budget Blinds uses is $862.50. Insurance and

usage charges come to 1.5% of the total. What is Budget's monthly payment?

Answer 1

The Budget's monthly payment is $72.95.

Explanation:

The annual rental charge of Budget Blinds = $862.50

Insurance and usage charges = 1.5% of $862.50

So, the charges are
`(1.5)/(100)  * 862.5 = 12.93`

Hence, the additional charge is $12.93

So, the total payment yearly = $862.50 + $12.93 = $875.43

So, the monthly payment = $875.43 / 12

= $72.95

Hence, the Budget's monthly payment is $72.95.