Gateway sold a big-screen TV and entertainment center to Iris for $2,000 on credit.Iris signed a promissory note and gave Gateway a security interest in the TV and entertainment center.Gateway filed a financing statement in the appropriate public office.When Iris defaulted on her monthly payments owing a balance of $1,780,Gateway's attorney made arrangements to have the TV and entertainment center repossessed.The attorney then placed classified ads in the local newspaper to sell the goods.The attorney's fees are $300,the repo company charged $150,and the advertising costs are $50.
(A)
If Iris chooses to redeem the property,how much must she pay to Gateway to recover the property?
(B)
If Iris does not redeem and the TV and entertainment center are sold for $1,750,how will the money be disbursed?

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The Answer of Gateway sold a big-screen TV and entertainment center to Iris for $2,000 on credit.Iris signed a promissory note and gave Gateway a security interest in the TV and entertainment center.Gateway filed a financing statement in the appropriate public office.When Iris defaulted on her monthly payments owing a balance of $1,780,Gateway's attorney made arrangements to have the TV and entertainment center repossessed.The attorney then placed classified ads in the local newspaper to sell the goods.The attorney's fees are $300,the repo company charged $150,and the advertising costs are $50.
(A)
If Iris chooses to redeem the property,how much must she pay to Gateway to recover the property?
(B)
If Iris does not redeem and the TV and entertainment center are sold for $1,750,how will the money be disbursed?

Gateway Sold a Big-Screen TV and Entertainment Center to Iris