Emil bought a camera for $268.26, including tax. He made a down payment of $12.00 and paid the balance in 6 equal monthly payments. What was Emil's monthly payment for this camera?

Answer 1

The first step is to subtract the down payment from the total cost to find the amount that Emil still owes after the down payment:

$268.26 - $12.00 = $256.26

Now we need to divide that amount by the number of monthly payments:

$256.26 ÷ 6 = $42.71 (rounded to the nearest cent)

Therefore, Emil's monthly payment for the camera was $42.71.