Question

Triana buys new furniture for $4200 and puts it on her credit card.She will pay 18% interest for 18 months and must make monthly payments of $267.98.How much money could she have saved if she paid for the furniture in full?

Answer 1

$623.64

Explanation:

To determine the money she could have saved if she paid the furniture in full, you have to determine the total amount she will pay when she completes the 18 payments and subtract the price of the furniture from that:

Total amount= 267.98*18

Total amount=4,823.64

$4,823.64-$4,200= $623.64

She have saved $623.64 if she paid for the furniture in full.