Question

You have decided to purchase a new stereo system made by Ownur 3ar5. Your local audio store has the company’s latest stereo and is offering a 36 month installment plan to finance the computer. The store requires no down payment. The salesperson tells you that you can finance the stereo with 36 monthly payments of $52.31. Determine the total amount paid.

Answer 1

52.31x36=1,883.16
You will end up paying $1,883.16 in the end

Answer 2

$1883.16

Step-by-step explanation:

We have been given that a local is offering a 36 month installment plan to finance the stereo with each installment equal to $52.31.

To find the total amount paid for stereo, we will multiply the amount of each installment by the total number of installments.

`\text{Total amount paid for stereo}=\$52.31* 36`

`\text{Total amount paid for stereo}=\$1883.16`

Therefore, the total amount paid for the stereo is $1883.16.