I need help calculating (a) the total installment price. (b) the carrying charges, and (c) the number of months needed to save the money at the monthly rate to buy the item below for its cash price (remember to round up).

A bike with a cash price of $500, offered on the installment plan for $28 per month for 24 months.

a. $ ?
b. $ ?
c. ?

Using the following information below, choose the correct answers.
Amount: $100,000
Rate: 7%
Payments: 360 @ $655.31
Total Interest: $ 139,511.60

How much will be repaid for this loan? $239,511.60, $239,502.40, or $100,000.00

What percentage of this total is total interest? 60.2, 58.2, or 56.2?

What will be the average amount per payment for interest? $387.53, $387.51, or $385.51?

Thanks you!

Calculate the total installment price, carrying charges, and number of months needed to save the money at the monthly rate to buy a bicycle with a cash price of $500, offered on the installment plan for $28 per month for 24 months below for its cash price (remember to round up).

installment price = $ 672

charges = $ 172

18 months

To calculate the total installment price, carrying charges, and the number of months needed to save the money for the bike, we can use the given information:

Cash price of the bike: $500
Monthly installment: $28
Duration: 24 months

(a) Total installment price = Monthly installment * Duration
= $28 * 24
= $672

Therefore, the total installment price is $672.

(b) Carrying charges = Total installment price - Cash price
= $672 - $500
= $172

Therefore, the carrying charges are $172.

(c) Number of months needed to save the money = Cash price / Monthly installment
= $500 / $28
≈ 17.86

Since the number of months needed must be rounded up, it will be 18 months.

Therefore, (a) the total installment price is $672, (b) the carrying charges are $172, and (c) the number of months needed to save the money is 18.

To calculate the total installment price, you need to multiply the monthly payment by the number of months. In this case, the monthly payment is $28, and the number of months is 24. So, the total installment price would be $28 * 24 = $672.

To calculate the carrying charges, subtract the cash price from the total installment price. In this case, the cash price is $500, and the total installment price is $672. So, the carrying charges would be $672 - $500 = $172.

To calculate the number of months needed to save the money at the monthly rate to buy the item for its cash price, divide the cash price by the monthly payment and round up to the nearest whole number. In this case, the cash price is $500, and the monthly payment is $28. So, you would divide $500 by $28, which equals approximately 17.857. Since you need to round up, the number of months needed would be 18.

Now let's move on to the second set of questions:

To determine how much will be repaid for the loan, you need to add the total interest to the initial amount borrowed. In this case, the initial amount borrowed is $100,000, and the total interest is $139,511.60. So, the amount that will be repaid for this loan is $100,000 + $139,511.60 = $239,511.60.

To calculate the percentage of the total that is interest, you divide the total interest by the amount that will be repaid and multiply by 100. In this case, the total interest is $139,511.60 and the amount that will be repaid is $239,511.60. So, the percentage of the total that is interest is (139,511.60 / 239,511.60) * 100 = 58.2%.

To calculate the average amount per payment for interest, you divide the total interest by the number of payments. In this case, the total interest is $139,511.60 and the number of payments is 360. So, the average amount per payment for interest is $139,511.60 / 360 = $387.53.

You're welcome! Let me know if there's anything else I can help with.