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Assume you call a customer who has a balance of $3585.26. They are required to pay 20% down and 6 equal payments of remainder amount. What should the 20% down and remainder payment amounts be?

Respuesta :

To compute for the 20% down,

[tex]\text{ }\frac{\text{Balance x \% of Down to pay}}{100\text{\%}}[/tex][tex]\frac{\text{ (\$3,585.25)}(20\text{ \%)}}{100\text{ \%}}\text{ = (\$3,585.26)}(0.20)\text{ = \$ 717.05}2\text{ }\cong\text{ \$ 717.05}[/tex]

To solve for the remaining payment,

[tex]\text{Balance - 20\% Down = Remaining Payment}[/tex][tex]\text{ \$3,585.26 - \$717.05 = Remaining Payment}[/tex][tex]\text{ Remaining Payment = \$ 2,868.21}[/tex]

When divided into 6 equal payments,

[tex]\frac{\text{Remainder }Payment\text{ }}{6}\text{ =}\frac{\text{ \$ 2,868.21}}{6}\text{ = \$478.035}[/tex]

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