124k views
7 votes
Modern Electronics offers a one-year monthly installment plan for a big screen TV. The payment for the first month is 882, and then it increases by 4% each month for the rest of the year. Which expression can be used to find the total amount paid in the first 12 months?

Modern Electronics offers a one-year monthly installment plan for a big screen TV-example-1

1 Answer

13 votes

✿————✦————✿

Answer: A


62=(12(1.04^(12)-1) )/(1.04-1)

✿————✦————✿

User Nick Khotenko
by
5.5k points