A​ washer-dryer combination can be purchased from a department store by making monthly credit card payments of $56.86 for two​-and-a-half years. The first payment is due on the date of sale and...


A​ washer-dryer combination can be purchased from a department store by making monthly credit card payments of $56.86 for two​-and-a-half
years. The first payment is due on the date of sale and interest is 22​% 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 $9.00 per month is added to cover a service​ contract, what is the value of the entire contract on the date of​ sale?


Jun 06, 2022
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