Question

(Total Costs and Debt Payoff MC)

A new homeowner bought a refrigerator from a discount appliance store. After making a $200 down payment, the remaining balance was financed using an installment loan. The homeowner makes 12 equal credit card payments of $59.81 to pay off the loan. The discount appliance store charges $1.50 for every payment made by credit card. The homeowner also had to pay late fees in the amount of $25 three different times.

What is the total cost of the refrigerator? Show all necessary work.

Answer 1

Does it give us the APR?

Answer 2

iwill help

Answer 3

To find the total cost of the refrigerator, we need to calculate the total amount paid including the down payment, installment payments, credit card fees, and late fees.

Down payment: $200
Installment payments: 12 payments of $59.81 each
Credit card fees: $1.50 per payment
Late fees: $25 each, occurring three times

Answer 4

This is the whole question

Answer 5

Down payment: $200
Installment payments: 12 payments of $59.81 each
Total installment payments = 12 * $59.81 = $717.72
Credit card fees: $1.50 per payment, 12 payments
Total credit card fees = 12 * $1.50 = $18
Late fees: $25 each, occurring three times
Total late fees = 3 * $25 = $75

Answer 6

Well dang-

Answer 7

Total cost = Down payment + Installment payments + Credit card fees + Late fees
= $200 + $717.72 + $18 + $75
= $200 + $717.72 + $18 + $75
= $1010.72

So, the total cost of the refrigerator is $1010.72.

Answer 8

Bro got to it before I did 0-0

Answer 9

thats the right answer?

Answer 10

yes if my math is correct

Answer 11

Should be-

Answer 12

phantomdex ill get to your question also

Answer 13

Ty I desperately nee dit answered, toga hasn't been on sob