Dexter purchased a flat screen TV for $3,300. With a down payment of $900,he was able to finance the balance at 8% for 5 years. Find the quarterly payments.

A. $601.10
B. $201.83
C. $146.78
D. $826.52

To find the quarterly payments, we will need to calculate the amount financed first.

The amount financed is the total cost of the TV minus the down payment:
Amount Financed = Total Cost - Down Payment
Amount Financed = $3,300 - $900 = $2,400

Next, we need to calculate the quarterly interest rate. Since the interest rate is given as an annual rate, we need to divide it by 4 to get the quarterly rate:
Quarterly Interest Rate = Annual Interest Rate / Number of Quarters in a Year
Quarterly Interest Rate = 8% / 4 = 0.08 / 4 = 0.02

Now, we can calculate the quarterly payments using the formula for a loan payment:

Quarterly Payment = (Amount Financed * Quarterly Interest Rate) / (1 - (1 + Quarterly Interest Rate)^(-Number of Quarters))
Quarterly Payment = ($2,400 * 0.02) / (1 - (1 + 0.02)^(-20))
Quarterly Payment = $48 / (1 - (1.02)^(-20))
Quarterly Payment ≈ $48 / (1 - 0.672174)
Quarterly Payment ≈ $48 / 0.327826
Quarterly Payment ≈ $146.78

Therefore, the quarterly payments for Dexter's TV purchase are approximately $146.78.

The correct answer is C. $146.78.

P(1 - (1 + .08/4)^-20)/(.08/4) = 2400

P(1 - 1.02^-20)/.02 = 2400
P = 146.78