Answer:
The amount is $275 more that the cash price of $725.
Step-by-step explanation:
It is given that John makes a down payment of $160 and pays $35 a month for 24 months.
Down payment = $160
Total amount of installments = $35 × 24 = $840
Total amount of product = Down payment + Total amount of installments
Total amount of product = $160 + $840 = $1000
Cash price = $725
Difference between credit and cash price is
Difference = $1000 - $725 = $275
Therefore the amount is $275 more that the cash price of $725.
