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02-01-2020
Mathematics

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You can buy a television for $349 cash or pay $75 down and the balance in 18 monthly payments of 22.50 is the installment price of the TV? By what percent would the installment price be greater than the cash price?

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Favouredlyf Favouredlyf

02-01-2020

Answer:

Step-by-step explanation:

If you pay cash, the total amount that you will pay for the television is $349

If you pay $75 down, the balance would be paid in 18 monthly payments of 22.50 which is the installment price of the TV. Total amount paid in 18 months would be

22.5 × 18 = $405

Total cost of the TV when you pay in installments would be

405 + 75 = $480

Difference between the installment price and the cash price would be

480 - 349 = $131

The percent by which the installment price would be greater than the cash price is

131/349 × 100 = 37.5%

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