Question

17. Mike bought a stove for $500. He paid $250 down and the balance,including interest, in 12 monthly installments of $30. How much tid thestove cost, including interest?a. $580.00b. $610.00c. $720.40

Answer 1

The price of the stove = $500

He paid $250

The total installments = 12 * $30 = $360

So, the cost of stove including interest

= 250 + 360 = 610

so, the answer is option b. $610.00