Question: question 2 A washer-dryer combination can be purchased from a department store by making monthly credit card payments of$51.87 for three-and-a-half years. The first payment

question 2

A washer-dryer combination can be purchased from a department store by making monthly credit card payments of$51.87 for three-and-a-half years. The first payment is due on the date of sale and interest is 21% compounded monthly.

(a) What is the purchase price?

(b) How much will be paid in installments?

(d) If an additional $9.00 per month is added to cover a service contract, what is the value of the entire contract on the date of sale?

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