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Is financing a new MacBook with Dual Core somewhat affordable?

I'm looking to spend no more than $60 a month.

1 Answer

  • 1 decade ago
    Favorite Answer

    Sure, you can finance, or put on your credit card.

    I would consider that very poor money management though.

    The cost of your Mac (approximate):

    $2500 (15 inch screen from Amazon)

    If you are lucky, you can find a loan at 10% interest compounded monthly.

    And lets say you can do $60 per month. There is a lovely mathematical formula that calculates how long that would take to pay back, and thus the total cost of the computer:

    It comes to about 52 payments: so 52 x 60 = $3,120

    You pay about $620 in interest. The price of a decent performing desktop computer.

    What if you can't get 10% interest, and I suspect you wouldn't if you need to finance something that only costs $2500. Let's try 15% interest, here goes:

    60 payments at $60 = $3,600

    A total of $1,100 in interest.

    That is just throw away money. I hate just "giving" money away. Are you sure you need that thing?

    Well, here is a link to a site where you can get it for much cheaper than Amazon.

    That would save you some money. Using the same calculations above, that would come to about 24 payments, or $1,440.

    Paying just $340 in interest at 15%.

    For computer and electronic stuff, these guys are great:

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