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Question

You can buy a sewin g machine for $625 cash or pay$125 down and the balance in 12 monthly payments of $46. What is the installment price? By what percent would your installment price be greater than the cash price , to the nearest tenth percent?

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

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1 of 6In this exercise, we are to calculate the * installment price* of a sewing machine if it can be bought for $\$625$ cash or be payed a downpayment of $\$125$ and 12 monthly payments of $\$46$. Then, we calculate by what percentage is the installment price greater than the cash price.

*What calculations and values are needed so that we can find the installment price?*

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