Choose the correct answers for (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 for its cash price. a dinette table with a cash price of $200 at $8.50 down and $11.00 per month for 24 months

total installment price = $272.50

Carrying charges = $72.50

19 months needed to save the money.

Step-by-step explanation:

a dinette table with a cash price of $200 at $8.50 down and $11.00 per month for 24 months

(a) Cash price is 8.50, $11.00 per month for 24 months

Total installment price = cash price + 11 for 24 months

= 8.50 + 11* 24

= 8.50 + 264 = 272.50

So total installment price = $272.50

(b) Original price of table = $200

Total installment price = $272.50

Carrying charges = Total installment price - Original price  

= 272.50 - 200- 72.50

Carrying charges = $72.50

(c) monthly rate = $11

Number of months needed to save = original price divide by monthly rate

=

So, 19 months needed to save the money.

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