Question

16. Model Real Life Your aunt and uncle

Answer 1

The amount of each payment is $699.

What is payment?

Payment refers to the exchange of something of value as a condition of a contract. While one party pays money and receives something else of value, the other party gets paid in return for delivering a good or service. Physical currency was once the most common form of payment, but nowadays most forms of payment use technology.

Given: Buy 2 personal watercrafts for $3,495 each.

So, the price for 2 watercrafts is, 2 x $3495 = $6990

They make 10 equal payments for the watercrafts.

So each payment is of $6990/10 = $699.

Hence, the amount of each payment is $699.

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