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Question

A friend sees an ad that would allow him to rent a large screen TV for $20 a week, for 152 weeks. At the end of the renta l period, he would own the TV. He could buy the same TV at the store for$2,000 . He thinks the rent-to-own price is a good buy. You don't . What are two comparisons between renting and buying the TV that you can make to support your position?

Solution

VerifiedRenting to own costs a total of $20$\times$152 = \$3,040. That is about 50\% more than the price at the store. \\\\($$\dfrac{\$3,000 - \$2,000}{\$2,000} =$$\dfrac{\$1,000}{\$2,000} =$$$\dfrac{1}{2}$ = 50%)

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