The carrying charges for a sofa with a cash price of $400 at $50 down and $20.00 per month for 24 months is $130
Carrying Charges:
Carrying charges is the financial commitment or cost associated with holding a physical commodity .
Therefore, the price of the sofa is $400 at $50 down and $20.00 per month for 24 months.
He pays $20 per month for 24 months at $50 down. Therefore,
- 20 × 24 + 50 = 480 + 50 = $530
Finally, the carrying charges can be calculated as follows:
- Carrying charges = $530 - $400 = $130
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