Solve the problem. Round monetary amounts to the nearest cent. Adam bought a $1,670 custom video game/sound system on a special no-interest plan. He made a$100 down payment and agreed to pay the entire purchase off in

$$1\frac{1}{2}$$

years. The minimum monthly payment is $10. If he makes the minimum monthly payment up until the last payment, what will be the amount of his last payment?

Solve the problem. Round monetary amounts to the nearest cent. Mazzeo’s Appliance Store requires a down payment of

$$\frac{1}{3}$$

on all installment purchases. Norton’s Depot requires a 30% down payment on installment purchases. Which store’s down payment rate is lower?

Solve the problem. Round monetary amounts to the nearest cent. A layaway plan is similar to an installment plan, but the customer does not receive the merchandise until it is paid for. It is held in the store for a fee. If you purchased a $1,700 set of golf clubs on a nine-month layaway plan and had to pay a monthly payment of$201, what is the sum of the monthly payments? What was the fee charged for the layaway plan?

Solve the problem. Round monetary amounts to the nearest cent. Monique buys a $4,700 air conditioning system using an installment plan that requires 15% down. How much is the down payment?

Craig wants to purchase a boat that costs $1,420. He signs an installment agreement requiring a 20% down payment. He currently has$250 saved. Does he have enough for the down payment?

Ari purchased a microwave oven on the installment plan for m dollars. He made a 20% down payment and agreed to pay x dollars per month for the two years. Express the finance charge algebraically.

Bernie bought a refrigerator at a special sale. The refrigerator regularly sold for $986. No down payment was required. Bernie has to pay$69 for the

$$1\frac{1}{2}$$

years. What is the average amount Bernie pays in interest each month?

The company can purchase the equipment by borrowing $249 000 with a 25-month 12% installment note. Payments of$11,306.28 are due at the end of each month, and the 1st installment is due on January 31, 2024. Record the issuance of the installment note payable for the purchase of the equipment.

Jean bought a $1,980 snow thrower on an installment plan. The installment agreement included a 10% down payment and 18 monthly payments of$116 each. If Jean models her payment plan as an arithmetic sequence, give the first term $a_1$ and the common ratio d.

Solve the problem. Round monetary amounts to the nearest cent. Jean bought a $1,980 snow thrower on the installment plan. The installment agreement included a 10% down payment and 18 monthly payments of$116 each. What is the finance charge?

The following arithmetic sequence models an installment purchase. Give the down payment, monthly payment, and length of the plan. 400, 510, 620, 730, 840, 950, 1,060.

Chris purchases living room furniture for $4,345 from Halloran Gallery. She has a 1-year, no-interest, no-money-down, deferred payment plan. She does have to make a$15 monthly payment for the first 11 months. What is the sum of these monthly payments?

Chris purchases living room furniture for $4,345 from Halloran Gallery. She has a 1-year, no-interest, no-money-down, deferred payment plan. She does have to make a$15 monthly payment for the first 11 months. How much must Chris pay in the last month of this plan?

Juliana is taking out an $8,700, 3-year loan with an APR of 2.31%. What will be the monthly payment for this loan? Round to the nearest cent.