Final answer:
Min-seo will pay a total of $3,600 for the laptop over 36 months. This is significantly higher than the original price of $1,550. She should reconsider if better financing options are available or if this is the best use of her resources.
Step-by-step explanation:
Min-seo is considering purchasing a new laptop with a price tag of $1,550, opting to pay this off over a 36-month period with monthly installments of $100. To calculate the total amount she will pay for the laptop, one would simply multiply the monthly payment amount by the number of months in the payment plan. Thus, the calculation would be $100 times 36, which equals $3,600.
When faced with such a scenario, Min-seo should carefully consider if this financial commitment is sensible. The total cost of the laptop is significantly higher than the sticker price, indicating that there is an implicit interest or financing fee included in the payment plan. Such a plan might not be the most economically advantageous option available.
Before making a decision, Min-seo should explore other payment methods, such as paying in full upfront, if that's feasible, or securing a consumer loan with a lower interest rate. Additionally, she might investigate other retailers or models that provide better value or seek out special promotions or discounts.
Ultimately, while the answer to whether she should buy the laptop is subjective and depends on her individual financial situation and the terms of the deal compared to other financing options, it is clear that paying $3,600 for a $1,550 laptop is not financially prudent without considering these other factors.