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23 March, 21:16

A company rented a copier for $600 per month. Five years later, an accountant calculated that if the company had purchased the copier and paid a $100 monthly maintenance charge, the company would have saved $700. What was the purchase price of the copier

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  1. 23 March, 23:04
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    C) $29,300

    Explanation:

    to determine the answer we need to solve the following equation:

    60 installments (C + $100) + $700 = 60 installments x $600

    60C + $6,000 + $700 = $36,000

    60C + $6,700 = $36,000

    60C = $29,300

    C = $29,300 / 60 = $488.33 per month during 5 years
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