Q:

Calculate (a) the total installment price, (b) the carrying charges, and (c) the number of months needed to save the money at the monthly rate to buy the item below for its cash price (remember to round up). A bicycle with a cash price of $500, offered on the installment plan for $28 per month for 24 months. a. $ a0 b. $ a1 c. a2

Accepted Solution

A:
8.50 + 11 (24) = 272.50 
The total price 
Carrying charges 72.50 

divide $11 into 200