Question

Today Javier put a cabinet on layaway by making a down payment of $80 and agreeing to pay $24 a month starting next month for 36 months. When will Javier receive the cabinet ?

A. 1 month
B. Today
C in 24 months
D in 36 months

Answer 1

Option D is the answer.

Step-by-step explanation:

A layaway is a system of paying a deposit to secure an item that is meant to be purchased later. In this purchasing method, a buyer places a deposit on an item to lay it away. He can pick the item later when he pays the balance. The balance can also be paid in smaller installments until the full amount is paid.

So, here Javier will be paying for 36 months, hence, he will get the cabinet after 36 months.