Linda financed $2,300 of furniture. The furniture store offered two finance plans: Plan A: Monthly payments of $110.42 for two years. Plan B: Monthly payments of $85.47 for three years. Which plan will Linda pay the least amount for the furniture and how much will she save? answer is a plan a 426 saved

Question

Maci Buck

Mathematics

6 February, 01:38

Linda financed $2,300 of furniture. The furniture store offered two finance plans: Plan A: Monthly payments of $110.42 for two years. Plan B: Monthly payments of $85.47 for three years. Which plan will Linda pay the least amount for the furniture and how much will she save? answer is a plan a 426 saved

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Answers (1)

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Cara Ferguson · Answer 1

We calculate the total amount that needs to be paid by multiplying the amount per month and the total number of months.

Plan A: Total amount = ($110.42/month) (24 months) = $2650.08

Plan B: Total amount = ($85.47/month) (36 months) = $3076.92

Thus, Linda will pay a lesser amount for Plan A. Also, the amount that can be saved is $426.84.