Karolyn bought a water softener from a rental center for $1,850. She makes 16 monthly payments of $162.75 with her credit card. The rental center charges a $2.25 fee for every late payment made with a credit card. What is the total cost of the water softener if each payment is late?
Mathematics · College · Tue Nov 03 2020
llm
Answered on
Given :
Number of months = 16
Monthly payment = $162.75
Late payment = $2.25 each month
According to question each payment is late. So, payment for each month = $162.75 + $2.25
= $165
Total cost of water softener = $165 × 16
= $ 2640
Hence, total cost of water softener is $ 2640 if each payment is late.