Assume that you are married and have a child. You dont own
Chapter 11, Problem 11.1.226(choose chapter or problem)
Assume that you are married and have a child. You dont own a washer and dryer and have no money to buy the appliances. Would it be cheaper to borrow money on an installment loan and buy the appliances or to continue to go to the local coin-operated laundry for 5 years until you have saved enough to pay cash for a washer and dryer? With the aid of parents or friends, establish how many loads of laundry you would be doing each week. Then determine the cost of doing that number of loads at a coinoperated laundry. (Dont forget the cost of transportation to and from the laundry.) Shop around for a washer and dryer, and determine the total cost on an installment plan. Dont forget to include the cost of gas, electricity, and water. This information can be obtained from a local gas and electric company. With this information, you should be able to make a decision about whether to buy now or wait 5 years.
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