Problema Solution
the parkers bought a table that was marked at $400. on the installment plan, they made a down payment equal to 25% of the marked price, plus a 12 monthly payments of $30 each. how much more than the marked price did they pay by buying it this way?
Answer provided by our tutors
they made a down payment equal to 25% of the marked price:
25% of $400 or 0.25*400 = $100.
plus they made 12 payments of $30 each or
12*30 = $360
in total they paid: $100+$360=$460
To find how much more they paid we subtract:
$460 - $400 = $60
They paid $60 more then the marked price.