Deena wants to buy a $2,200 laptop, but she doesn't have the money. She decides to finance the purchase and will pay monthly payments of $231.55 for a year. How much extra will Deena end up paying for the laptop because she financed it rather than paying for it all at once?

Question

(pick an answer)

$2,778.60

$578.60

$463.10

$1,621.40

Answer 1

$578.60

To calculate the total amount Deena will end up paying for the laptop if financed:
$231.55/month x 12 months = $2,778.60

Subtract the original price of the laptop:
$2,778.60 - $2,200 = $578.60

Therefore, Deena will end up paying an extra $578.60 for the laptop because she financed it instead of paying for it all at once.