Question

Date: November 15, 2021 Subject: Mathematics Topic: Consumer Mathematics Classwork Mrs. Allen bought a refrigerator on a payment plan. She made a deposit of $150 and paid the balance in 11 monthly payments of $118 each. a. Calculate the total amount of monthly payments. [2] b. Calculate the total cost of the refrigerator using the payment plan. [2]​

Answer 1

a) $1,298 b) $1,448

Explanation:

a) total of monthly payments: 11 x 118 = $1,298

b ) total cost of refrigerator: deposit + sum of monthly payments

= 150 + 1298

= $1,448