Brandon needs $480 to buy a TV and stereo system for his room. He received $60 in cash for birthday presents. He plans to save $
2 answers:
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<u>Solution-</u>
The price of the snow thrower = $1980
He must pay a 10% down-payment and the rest at a $116 monthly payment for 18 months.
<u>A. How much is the down payment</u>
Down payment amount is, 10% of $1980, i.e
<u>B. What is the total amount of the monthly payments</u>
A monthly payment of $116 for 18 months, i.e
<u>C. How much did Jean pay for the snow thrower on the installment plan</u>
It is the sum of down-payment and total monthly payments, i.e
<u>D. What is the total finance charge</u>
It the difference between the original price and the amount paid by Jean, i.e
<u> E. If Jean models her payment plan as an arithmetic sequence, give the first term a1 and the common ratio d</u>
As he paid the down-payment of $198 and then a constant monthly payment of $116, so
The first term = 198
common difference = 116
The A.P. series will be, 198, 314, 430, 546, 662,.................., 2286