<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
![=1980\times \dfrac{10}{100}=\dfrac{1980}{10}=\$198](https://tex.z-dn.net/?f=%3D1980%5Ctimes%20%5Cdfrac%7B10%7D%7B100%7D%3D%5Cdfrac%7B1980%7D%7B10%7D%3D%5C%24198)
<u>B. What is the total amount of the monthly payments</u>
A monthly payment of $116 for 18 months, i.e
![=116\times 18=\$2088](https://tex.z-dn.net/?f=%3D116%5Ctimes%2018%3D%5C%242088)
<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
![=198+2088=\$2286](https://tex.z-dn.net/?f=%3D198%2B2088%3D%5C%242286)
<u>D. What is the total finance charge</u>
It the difference between the original price and the amount paid by Jean, i.e
![=2286-1980=\$306](https://tex.z-dn.net/?f=%3D2286-1980%3D%5C%24306)
<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