Mathematics Related

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A consumer makes a $400 down payment on a television that costs $1,570. How many months will it take to pay off the television with monthly payments of $100? (Assume no interest)

  • A. 16
  • B. 12
  • C. 11
  • D. 15
Correct Answer: B

Rationale: To determine the number of months needed to pay off the television, subtract the down payment from the total cost: $1,570 - $400 = $1,170. Next, divide the remaining amount ($1,170) by the monthly payment of $100 to find the number of months: $1,170 · $100 = 11.7 months. Since you cannot make a fraction of a monthly payment, the consumer will need to make 12 monthly payments to fully pay off the television.