Need help with this please.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 TV with a cash price of $600 at $59.00 per month for 12 monthsA. the choices are 708.00698.00688.00B. the choices are88.00108.0098.00C. the choices are10119

Accepted Solution

Answer:   a) 708.00   b) 108.00   c) 11Step-by-step explanation:a) The cost is $59 for each of 12 months, so the total cost is ...   12×$59 = $708__b) The "carrying charges" are the difference between what is paid and the cash price:  $708 -600 = $108__c) Saving at the rate of $59 per month, it will take ...   $600/($59/mo) ≈ 10.17 moto save the money. The amount saved will be $590, or $10 short of the required amount after 10 months, so it will take 11 months to save enough for the cash purchase.