Question
Andrew buys a home entertainment system from an electronics store offering 0% interest for 18 months. Calculate the average monthly payment she should make to avoid paying deferred interest charges for the $8,000 system.
(1 point)
Responses
$333.33
$333.33
$444.44
$444.44
$666.67
$666.67
$1,333.33
(1 point)
Responses
$333.33
$333.33
$444.44
$444.44
$666.67
$666.67
$1,333.33
Answers
GPT-4o mini
To determine the average monthly payment Andrew should make to avoid paying deferred interest charges on the $8,000 home entertainment system over 18 months, you simply divide the total amount by the number of months.
\[
\text{Average Monthly Payment} = \frac{\text{Total Amount}}{\text{Number of Months}}
\]
\[
\text{Average Monthly Payment} = \frac{8,000}{18} \approx 444.44
\]
Thus, the average monthly payment Andrew should make is **$444.44**.
\[
\text{Average Monthly Payment} = \frac{\text{Total Amount}}{\text{Number of Months}}
\]
\[
\text{Average Monthly Payment} = \frac{8,000}{18} \approx 444.44
\]
Thus, the average monthly payment Andrew should make is **$444.44**.