Deena wants to buy a $2,200 laptop, but she doesn't have the money. She decides to finance the purchase and will pay monthly payments of $231.55 for a year. How much extra will Deena end up paying for the laptop because she financed it rather than paying for it all at once?
(pick an answer)
$2,778.60
$578.60
$463.10
$1,621.40
$578.60
To calculate the total amount Deena will end up paying for the laptop if financed:
$231.55/month x 12 months = $2,778.60
Subtract the original price of the laptop:
$2,778.60 - $2,200 = $578.60
Therefore, Deena will end up paying an extra $578.60 for the laptop because she financed it instead of paying for it all at once.