Question: The Ortegas decide to buy some furniture priced at $400 with $40 down and the balance to paid for using 10% add-on interest, to be paid in monthly installments over one year. What are the total interest they will be charged? and what is their monthly payment?

A) Interest = $30; Monthly payment = $30

B) Interest = $30; Monthly payment = $36

C) Interest = $36; Monthly payment = $33

D) Interest = $36; Monthly payment = $30