Answer:
The Budget's monthly payment is $72.95.
Step-by-step explanation:
The annual rental charge of Budget Blinds = $862.50
Insurance and usage charges = 1.5% of $862.50
So, the charges are [tex]\frac{1.5}{100} \times 862.5 = 12.93[/tex]
Hence, the additional charge is $12.93
So, the total payment yearly = $862.50 + $12.93 = $875.43
So, the monthly payment = $875.43 / 12
= $72.95
Hence, the Budget's monthly payment is $72.95.
