SOLUTION: A washing machine can be purchased for $965 cash or on the installment plan with $50 down and 12 installments of $98 each. What are the carrying charges if the machine is purchased

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Question 182191This question is from textbook Business Mathematics
: A washing machine can be purchased for $965 cash or on the installment plan with $50 down and 12 installments of $98 each. What are the carrying charges if the machine is purchased on the installment plan?
a) $261
b) $211
c) $1,226
d) None of these This question is from textbook Business Mathematics

Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
50+12*98=50+1176=1228
1228-965=261 answer a).