§3.5–6 Content Check

  1. Considering the example of buying a refrigerator presented in the chapter, how would the total cost (total amount paid) change in each of the three scenarios if instead the retail price of the refrigerator was $1800 and the rent-to-own store was offering the fridge for $24 per week for two years? (All other figures in the situation — interest rates, term lengths, etc — don’t change.)