Question

Chris purchases a living room furniture set for $4,345 from Halloran Gallery. She has a one-year, no interest, no money down, deferred payment plan. She does have to make a $15 monthly payment for the first 11 months. b. How much must Chris pay in the last month of this plan

Answer 1

Answer: $4180

Step-by-step explanation:

From the question, we are told that Chris purchases a living room furniture set for $4,345 and has a one-year, no interest, no money down, deferred payment plan. We are further told that She he made a $15 monthly payment for the first 11 months.

The total amount paid for the first 11 months will be:

= $15 × 11

= $165

Since he has to pay the total amount for 12 months, the amount that Chris will pay in the last month of this plan will be:

= $4345 - $165

= $4180