Question: A washer - dryer combination can be purchased from a department store by making monthly credit card payments of $ 4 8 . 3 2
A washerdryer combination can be purchased from a department store by making monthly credit card payments of
$ for threeandahalf years. The first payment is due on the date of sale and interest is compounded monthly.
a What is the purchase price?
b How much will be paid in installments?
c How much is the cost of financing?
d If an additional $ per month is added to cover a service contract, what is the value of the entire contract on the
date of sale?
a The purchase price is $
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
b The amount paid in installments will be $
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
c The cost of financing is $
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
d The value of the entire contract on the date of sale is $
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
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