Answer: $4180
Explanation:
From the question, we are told that Chris purchases a living room furniture set for $4,345 and has a one-year, no interest, no money down, deferred payment plan. We are further told that She he made a $15 monthly payment for the first 11 months.
The total amount paid for the first 11 months will be:
= $15 × 11
= $165
Since he has to pay the total amount for 12 months, the amount that Chris will pay in the last month of this plan will be:
= $4345 - $165
= $4180
