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Rent To Own - Rent to Own 1/2 Directions Visit the...

  • Hortonville High
  • ECON 101
  • BrigadierUniverse9185
  • 2
  • 100% (3) 3 out of 3 people found this document helpful

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Rent to Own(1/2)DirectionsVisit the website of a rent-to-own company. Based on the information you gather, complete the form below tocompare the price of purchasing from a rent-to-own store rather than a traditional vendor.Item NameCost PerWeekNumber ofWeeks toPay OffTotal CostofItem(Cost Per Week* Weeks)InterestRate BeingCharged *AnotherStoreCarryingItemCost atOtherStore$$ SavingsLaptopComputer$15.0078$1,17088.7%HP$619.99$550.01Dryer$18.9991$1,728.09204.2%HomeDepot$568.00$1,160.09Big ScreenTV24.99912274.0989.5%Dell749.991524.10GamingSystem$24.9952$1,299.48334.6%Walmart$299$1,000.48Refrigerator$32.99104$3,430.96212.5%HomeDepot$1,098$2,332.96SectionalSofa$34.9978$2,729203.6%Overstock$899$1,830*To calculate the interest rate calculate the total interest charged (Total Cost – Suggested Retail Price) and thendivide the interest by the retail price. Finally, move the decimal place two spots to the right to get the interest rate asa percentage.Foundations in Personal Finance High School Edition
Rent To Own(2/2)1Why would one want to use a rent-to-own store for merchandise? Think of at least three reasons and record thembelow.
2Why should one not use a rent-to-own store for merchandise? Think of at least three reasons and record thembelow.
3After completing this activity, would you use a rent-to-own store? Why or why not?
Foundations in Personal Finance High School Edition
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Term
Summer
Professor
Greg Yeager
Tags
Finance, Interest, Interest Rate, Suggested retail price

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