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23 May, 11:50

You can buy a television for $825 cash or pay $75 down and the balance in 24 monthly payments of 42.25 is the installment price of the TV? By what percent would the installment price be greater than the cash price?

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  1. 23 May, 12:13
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    32%

    Explanation:

    Cash = $825

    or

    Down Payment = $75

    24 Monthly Payments = $42.25

    So we can calculate the Installment Plan total amount by;

    = 75 + 24 (42.25)

    = $1089

    Now, Lets calculate the percentage of installment price greater than the cash price:

    $1089 - $825 = 264

    $264 / $825 = 32%

    Hence, by 32% installment price be greater than the cash price.
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