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7 May, 04:54

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?

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  1. 7 May, 08:29
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    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%
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