Example given:
a) If she choose option 1, She would pay the deferred payment plan of $899.99 including the delivery charge of $30.00 and the administration fee of $75.00.
$30.00 + $75.00 = $105.00
b) Calculate the total cost of the Sofa if she buys it on the deferred payment plan.
Deferred payment plan of $899.99 plus the Delivery charge of $30.00 plus the Administration Fee of $75.00 total of $1004.99
c) If Mi Jung used her credit card to buy a sofa.
* used the formula of Simple Interest.
I=Prt
I=(899.99)(0.21)(31/365)
I=16.05 + 899.99
I=916.04
I=(899.99)(0.21)(31/365)
I=16.05 + 899.99
I=916.04
d) Mi Jung should've save $105.00 if she bought it in cash for the sofa, rather than using the deffered payment plan.
$1004.99 - $899.99 = $105.00
That's how we calculate those problems, I hope you understand what I have explained.
By the way guys I would like to remind you about to our projects ^_^
Credit Card Project will be due on Friday
Credit Card Project will be due on Friday
iPhoto Project Rubric will be due on 18th of October
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