You can buy a television for $349 cash or pay $75 down and the balance in 18 monthly payments of 22.50 is the installment price of the TV? By what percent would the installment price be greater than the cash price?

Step-by-step explanation:

If you pay cash, the total amount that you will pay for the television is $349

If you pay $75 down, the balance would be paid in 18 monthly payments of 22.50 which is the installment price of the TV. Total amount paid in 18 months would be

22.5 * 18 = $405

Total cost of the TV when you pay in installments would be

405 + 75 = $480

Difference between the installment price and the cash price would be

480 - 349 = $131

The percent by which the installment price would be greater than the cash price is

131/349 * 100 = 37.5%