You Are Considering a Cell Phone Package That Needs No

Multiple Choice

You are considering a cell phone package that needs no money down but has monthly payments of $18.50 for 36 months.The monthly interest rate for you is 1% per month.Alternatively, you can buy the cell phone outright for one fixed price.At which of the following prices would you be better to buy the cell phone?

A) $500
B) $557
C) $575
D) $666