A stereo can be purchased on the installment plan with a down payment of $35.00 and the 15 payment of $22. 50 each. If there is
no sales tax how much will the stereo cost if purchase on the installment plan?
2 answers:
Multiply 22.50 by 15 to find the total of the payments and then add that to the down payment of 35.00.
22.50 x 15 = $337.50 ( total monthly payments)
337.50 + 35.00 = $372.50 total cost.
Answer:
The cost will be $ 372.5
Step-by-step explanation:
Given,
For a stereo,
Down payment = $ 35.00,
Also, the amount of each payment = $22.50,
Number of payment = 15,
So, the total amount of payment = 15 × 22.50 = $ 337.5,
Hence, the total cost of the stereo = Down payment + Total amount of payment
= $ 35.00 + $ 337.5
= $ 372.5
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