Problema Solution
A Digital TV costs $800. John can're afford to buy it out-right. He decides to get it on time payment. If he takes twe've months to pay for it and the interest is 5% per month, how much is the monthly amount he has to pay?
Answer provided by our tutors
The cost each month = $800/12 = 200/3 = $66.67
The interest rate is 5% per month
So the monthly amount he has to pay =$66.67*(1+5%)= $70
So
the monthly amount he has to pay is $70