\begin{tabular}{|l|l|l|l|}
\hline
\multicolumn{1}{|c|}{Item} & \multicolumn{1}{|c|}{\begin{tabular}{c}
Rent-to- \\
own \\
payments
\end{tabular}} & \begin{tabular}{l}
Installment \\
plan
\end{tabular} & \begin{tabular}{c}
Retail \\
price
\end{tabular} \\
\hline
\begin{tabular}{l}
50-inch \\
television
\end{tabular} & \begin{tabular}{l}
[tex]$\$[/tex]27$ per \\
week for \\
one year
\end{tabular} & \begin{tabular}{l}
[tex]$\$[/tex]71$ per \\
month for 12 \\
months
\end{tabular} & [tex]$\$[/tex]480$ \\
\hline
Refrigerator & \begin{tabular}{l}
[tex]$\$[/tex]28$ per \\
week for \\
one year
\end{tabular} & \begin{tabular}{l}
[tex]$\$[/tex]80$ per \\
month for 12 \\
months
\end{tabular} & [tex]$\$[/tex]800$ \\
\hline
\end{tabular}

Maria is considering buying a television and a refrigerator for her new apartment. Her monthly budget is [tex]$\$[/tex]200$.

1. Maria will pay an extra [tex]$\square$[/tex] if she uses the rent-to-own program to buy the television, rather than waiting until she saves up enough money to pay cash for it.

2. If she saves her money and pays cash, she can purchase a refrigerator in [tex]$\square$[/tex].



Answer :

Let's go through the solution step by step.

First, we'll analyze the television:

1. Television Rent-to-Own Cost:
- The weekly cost for rent-to-own is $27.
- There are 52 weeks in a year.
- Total yearly cost: \( 27 \times 52 = 1404 \)

2. Television Retail Price:
- The retail price of the TV is $480.

3. Extra Cost by Rent-to-Own:
- Extra cost = Total rent-to-own cost - Retail price
- Extra cost = \( 1404 - 480 = 924 \)

So, Maria will pay an extra $924 if she uses the rent-to-own program to buy the television, rather than waiting until she saves up enough money to pay cash for it.

Next, let's analyze the refrigerator:

1. Refrigerator Rent-to-Own Cost:
- The weekly cost for rent-to-own is $28.
- There are 52 weeks in a year.
- Total yearly cost: \( 28 \times 52 = 1456 \)

2. Refrigerator Retail Price:
- The retail price of the refrigerator is $800.

3. Extra Cost by Rent-to-Own:
- Extra cost = Total rent-to-own cost - Retail price
- Extra cost = \( 1456 - 800 = 656 \)

Therefore, if Maria saves her money and pays cash, she can purchase a refrigerator in \( \frac{800}{200} = 4 \) months.

In summary:

- Maria will pay an extra $924 if she uses the rent-to-own program to buy the television, rather than waiting until she saves up enough money to pay cash for it.
- If she saves her money and pays cash, she can purchase a refrigerator in 4 months.

Other Questions