Question
Crystal purchased the refrigerator shown she made a downpayment and paid the balance is equal monthly payments for 30 months calculate the amount of money she paid monthly if a refrigerator cost $5600.00+12 1/2% vat downpayment $1800.00
Answers
GPT-4o mini
To calculate the monthly payments Crystal made for the refrigerator, we first need to determine the total cost of the refrigerator, including VAT, deduct the down payment, and then calculate the remaining balance for the monthly payments.
1. **Calculate the total cost of the refrigerator including VAT:**
- Refrigerator cost: $5600.00
- VAT rate: 12.5% (or 0.125)
- Calculate the VAT amount:
\[
\text{VAT amount} = 5600 \times 0.125 = 700
\]
- Total cost including VAT:
\[
\text{Total cost} = 5600 + 700 = 6300
\]
2. **Determine the balance after the down payment:**
- Down payment: $1800.00
- Balance after down payment:
\[
\text{Balance} = \text{Total cost} - \text{Down payment} = 6300 - 1800 = 4500
\]
3. **Calculate the monthly payments for the remaining balance over 30 months:**
- Monthly payments:
\[
\text{Monthly payment} = \frac{\text{Balance}}{30} = \frac{4500}{30} = 150
\]
Therefore, the amount of money Crystal paid monthly is **$150.00**.
1. **Calculate the total cost of the refrigerator including VAT:**
- Refrigerator cost: $5600.00
- VAT rate: 12.5% (or 0.125)
- Calculate the VAT amount:
\[
\text{VAT amount} = 5600 \times 0.125 = 700
\]
- Total cost including VAT:
\[
\text{Total cost} = 5600 + 700 = 6300
\]
2. **Determine the balance after the down payment:**
- Down payment: $1800.00
- Balance after down payment:
\[
\text{Balance} = \text{Total cost} - \text{Down payment} = 6300 - 1800 = 4500
\]
3. **Calculate the monthly payments for the remaining balance over 30 months:**
- Monthly payments:
\[
\text{Monthly payment} = \frac{\text{Balance}}{30} = \frac{4500}{30} = 150
\]
Therefore, the amount of money Crystal paid monthly is **$150.00**.