The person buying the new computer will pay $120 more when choosing the rent-to-own option of paying $37 per week for 24 weeks over paying the whole cost of $768 at once.
A rent-to-own contract is a contract where the buyer pays for something as rent to the owner until the set period in the contract.
In the question, we are informed that a person decides to buy a new computer. He has two options to buy. Either he can pay the full cost of the computer = $768, or he can choose a rent-to-own option, in which he will pay $37 per week for 24 weeks.
We are asked to find the extra cost that the person will pay if he chooses the rent-to-own option, after completing all his payments.
The total amount that the person pays in the rent-to-own option = $37*24
or, the total amount that the person pays in the rent-to-own option = $888.
The actual cost of the computer = $768.
∴ Extra payment = Total Payment - Actual cost
or, Extra payment = $888 - $768 = $120.
∴ The person buying the new computer will pay $120 more when choosing the rent-to-own option of paying $37 per week for 24 weeks over paying the whole cost of $768 at once.
Learn more about a rent-to-own contract at
https://brainly.com/question/14315509
#SPJ2
