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10. A furniture company allows customers to purchase household furnishings with an in-store loan, pay with cash or a credit card, or Rent-To-Own with a
10. A furniture company allows customers to purchase household furnishings with an in-store loan, pay with cash or a credit card, or Rent-To-Own with a lease agreement. A customer chooses furniture worth $3,225.00 including tax and chooses to Rent-To-Own. Rent to Own Furniture Warehouse No down payment is required. The monthly lease payment is $156.99 for 2 years. a. Calculate the total cost to own the furniture using the Rent-To-Own option. b. What the amount of the finance charge on this purchase? C. What simple interest percentage rate is this finance charge? Recall: I = Prt
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