Mathematics, 13.10.2021 23:30 smarty959
10. A furniture company allows customers to purchase household furnishings with an in-store loan,
pay with cash or a credit card, or Rent-To-Own with a lease agreement.
A customer chooses furniture worth $3,225.00 including tax and chooses to Rent-To-Own.
Rent to Own Furniture Warehouse
• No down payment is required.
• The monthly lease payment is $156.99 for 2 years.
a. Calculate the total cost to own the furniture using the Rent-To-Own option.
b. What the amount of the finance charge on this purchase?
c. What simple interest percentage rate is this finance charge? Recall: = �
Answers: 1
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10. A furniture company allows customers to purchase household furnishings with an in-store loan,...
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