Max is going to borrow money to buy a TV. For one TV he must pay back $438 in 12 months. For the other TV, he must pay back $555 in 15 months. Which TV has lower monthly payments? Explain how you know

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"Max is going to borrow money to buy a TV. For one TV he must pay back $438 in 12 months. For the other TV, he must pay back $555 in 15 months. Which TV has lower monthly payments? Explain how you know"

let us solve for the monthly payment expected in both cases

given data

amount= $438

time =12 months

monthly pay = 438/12

monthly pay = $36.5 per month

given data

amount= $555

time =15 months

monthly pay = 555/15

monthly pay = $37 per month

Therefore the First plan which is $438 in 12 months has lower monthly payments because Max will pay $36.5 monthly, the second plan is $0.5 more which is $37

g

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