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You have decided to purchase a new stereo system made by Ownur 3ar5. Your local audio store has the company’s latest stereo and is offering a 36 month installment plan to finance the computer. The store requires no down payment. The salesperson tells you that you can finance the stereo with 36 monthly payments of $52.31. Determine the total amount paid.

Verified Answer :

jhs0718

52.31x36=1,883.16
You will end up paying $1,883.16 in the end

Answer:

$1883.16

Step-by-step explanation:  

We have been given that a local is offering a 36 month installment plan to finance the stereo with each installment equal to $52.31.

To find the total amount paid for stereo, we will multiply the amount of each installment by the total number of installments.

\(\text{Total amount paid for stereo}=\$52.31\times 36\)

\(\text{Total amount paid for stereo}=\$1883.16\)

Therefore, the total amount paid for the stereo is $1883.16.

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