Question

You have decided to purchase a new computer with the Amtel processor. The new processor is the latest release of the hyperduoraging core threading processors. You local computer store has a computer with this processor and is offering a 36 month installment plan to finance the computer. The store requires no down payment. The salesperson tells you that you can finance the computer with 36 monthly payments of $98.20. Determine the total amount paid.

a.
$3,535.20
c.
$3,256.01
b.
$3,426.31
d.
$3,089.57

Answer 1

A. $3,535.20.

To find the total amount paid, you can simply multiply the monthly payment by the number of payments:

$98.20 x 36 = $3,535.20

Answer 2

3,535.20 is the answer