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 wedding dress with a cash price of $1,250, at $93 per month for 15 months

Answer 1

Answer:A=$13905.00

B=$145.00

C=$14

Step-by-step explanation: odyssey ware

Answer 2

(a) $1395

(b) $145

(c) $14

Explanation:

Cash price of the wedding dress = $1250

time = 15 months , and monthly payment = $93

(a) Total investment price = Monthly payment × Time

= 93 × 15

=$1395

(b) the carrying charges for the wedding dress = total investment price - actual cash price of the dress

= 1395 - 1250

= $145

(c) No. of months needed to save the money to buy the dress at its cash price on a monthly rate :

`=(cash\thinspace price)/(monthly\thinspace payment)\\=(1250)/(93)=13.44\approx14 months`