Question

The bottom question is if the phone is $150, which payment plan will pay off the phone in the fastest time.

A. Payment plan A with a $30 monthly installment.
B. Payment plan B with a $15 monthly installment.
C. Payment plan C with a $10 monthly installment.
D. Payment plan D with a $25 monthly installment.

Answer 1

Payment plan A with a $30 monthly installment will pay off the phone in 5 months.

Step-by-step explanation:

To determine which payment plan will pay off the phone in the fastest time, we need to calculate the total cost of each plan and compare them.

Plan A: $30 monthly installment

Total cost = $150 / $30 = 5 months

Plan B: $15 monthly installment

Total cost = $150 / $15 = 10 months

Plan C: $10 monthly installment

Total cost = $150 / $10 = 15 months

Plan D: $25 monthly installment

Total cost = $150 / $25 = 6 months

Based on these calculations, Payment plan A will pay off the phone in the fastest time, as it takes only 5 months to pay off the $150.