Question

If a TV set is bought on the installment plan there is a down payment of $25 and 12 monthly payments of $15 each. The same set may be bought for cash at 12% less than the installment price. The amount saved by making a cash payment is:

Answer 1

(25+12*15)*.12

Answer 2

Mr.themba bought on an instalment plan a Sony digital home theatre system for which the cash price was $ 3699.00.he paid $459.40 as a down payment and then made 12 monthly payments of $ 387.10 each.