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Financial Literacy

Lesson 3: Payment methods

Different payment methods

Listed below are four methods of paying for a printer with an initial cost of dollar sign, 82.

Method	Terms	Total
Cash	None	dollar sign, 82
Credit card	22, point, 99, percent APR, 28 days grace period	dollar sign, 82, plus interest
In-store financing	3 months interest-free	dollar sign, 82
Layaway	dollar sign, 5 set up fee, equal monthly payments	dollar sign, question mark

What would be the total cost if choosing layaway as a payment method?

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