Chris purchases living room furniture for $4,345 from Halloran Gallery. She has a 1-year, no-interest, no-money-down, deferred payment plan. She does have to make a $15 monthly payment for the first 11 months.
a. What is the sum of these monthly payments?
b. How much must Chris pay in the last month of this plan?
c. What is the difference between the layaway plan in Exercise 12 and the deferred payment plan in Exercise 13?