Question

Janet Foster bought a computer and printer at Computerland. The printer had a $620 list price with a $100 trade discount and 2/10, n/30 terms. The computer had a $2,200 list price with a 25% trade discount but no cash discount. On the computer, Computerland offered Janet the choice of (1) paying $90 per month for 17 months with the 18th payment paying the remainder of the balance or (2) paying 8% interest for 18 months in equal payments.

a. Assume Janet could borrow the money for the printer at 8% to take advantage of the cash discount. How much would Janet save? (Use 360 days a year. Round your answer to the nearest cent.)

Janet's savings

Answer 1

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