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Modern Appliances offers a one-year monthly installment plan for a refrigerator. The payment for the first month is $75, and then it increases by 6% each month for the rest of the year. Which expression can be used to find the total paid in the first 12 months?

Respuesta :

merlynthewhizz
First month payment = $75
The amount to pay increases compound for the next 11 months 

Number of months left on the instalment plan is 11 months

The increase is 6% = 0.06

Let F be final value and X  be the value paid at the beginning of instalment, then

[tex]F=X (1+0.06)^{n} [/tex], where 'n' is the number of months left to be paid

[tex]F=75 (1.06)^{11} =142.4[/tex]

Answer:

75(1-1.06^12/1-1.06) !!   ITS A

Step-by-step explanation:

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