Question

Maria is considering buying a television and a refrigerator for her new apartment. Her monthly budget is $200.

Answer 1

Answer:

a) Maria will pay an extra _$924__ ...

b) she can purchase the refrigerator in  __4__ months.

Explanation:

a) Maria will pay an extra _ if she uses the rent-to-own program

To determine the extra cost of the rent-to-own program, we first have to figure how much it will cost her in total.

The table says it will cost her $27 per week, for a year. Since a year has 52 weeks, that makes a total of:

RTO = 27 * 52 = 1,404

Then we compare that to the retail price of $480 and find the difference:

D = 1404 - 480 = 924

She'll pay an extra $924 if she uses the rent-to-own program, paying her TV almost three times instead of one.

b) she can purchase the refrigerator in  _4_ months.

The refrigerator costs $800 and she has a budget of $200 per month, so...

T = $800 / $200/month = 4 months

It will take her 4 months to save for the refrigerator

Answer 2

Answer:

Maria will pay an extra 924 to 951 depending on when she buys it.

She can buy the refrigerator in 4 months.

Explanation:

There are 52.3 weeks in a year, and depending on when she buys it, she can manage to make 52 or 53 payments that would make a total of 1404 dollars a year or 1431 dollars a year, if paying cash is 480, the difference would be either 924, or 951.

The refrigrerator costs $800 and with the budget she has a month she can buy one after 4 months. 4 months at $200 a month= $800