Question

They brought a new plasma TV for $1800 he made a down payment for 500 and then find is the balance to the store unfortunately he was unable to make the first monthly payment and now pay 7% interest per month on the balance what is Vicks monthly interest payment

Answer 1

Vicks monthly interest payment is $91

Explanation:

Total: $1800

Down payment: $500 (already paid)

Current balance need to be paid:

$1800 - $500 = $1300

7% of $1300 is, 1300 x 0.07 = $91