Answer: The percent increase from the original cost of the entertainment system to the cost of the entertainment system using the payment plan is 12%.
Explanation:
Hi, to answer this question, first we have to obtain the price paid using the payment plan:
- <em>Downpayment: $125
</em>
- <em>$72.50 each month for 6 months: 72.50 x 6 = 435
</em>
Cost using payment plan: 125+435=560
Original cost: $500
If we compare the price by applying the formula:
Percentage increase = (higher value - lower value/ lower value) \times 100
Replacing with our values:
P = ( 560-500/500)x100 = 0.12 x 100 =12%
Feel free to ask for more if needed or if you did not understand something.
