Question

Christian buys a $3500 computer using an installment plan that requires 17% down and a 3.7% interest rate. How much is the down payment?

Answer 1

1) Gathering the data

$3500 computer

17% down

3.7% interest rate.

2) Since we want to know how much is that down payment, we must turn that 17% into decimal form, then multiply it by the computer value:

17%=0.17

3500 x 0.17 = $595

3) So Christian must pay $595 as the down payment