Awasher-dryer combination can be purchased from a department store by making monthly credit card payments of $42.63 for two-and-a-half years. The first payment is due on the date of sale and interest is 17% compounded monthly.

(a) What is the purchaseprice?

(b) How much will be paid ininstallments?

(c) How much is the cost offinancing?

(d) If an additional $9.00 per month is added to cover a servicecontract, what is the value of the entire contract on the date ofsale?

Answer:

a) The purchase price is _

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

b) The amount paid in installments will be _

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

c) The cost of financing is _

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

d) The value of the entire contract on the date of sale is _

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)