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Question

# You can buy a DVD player for $250 cash or pay$50 down and the balance in 12 monthly payments of \$18. What is the installment price? By what percent would your installment price be greater than the cash price?

Solution

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Step 1
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$12\times \18+\50=\266$

The installment price is the product of the number of payments and the monthly payment increased by the down payment.

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