Question

Monica Wallace purchased a backyard swimming pool that costs $595. She

made a 25 percent down payment. What is the amount she financed?

Answer 1

$148.75

Step-by-step explanation:

A down payment is the same as a deposit when making purchases on credit. It is the portion of the price that a customer pays by cash when purchasing on credit.

A down payment of 25% means that this portion was paid cash. If Monica financed 25%, then the down-payment is equal to 25% since this is the amount Monica paid cash.

The amount that she financed is 25 percent of $595

=25 % x $595

=0.25 x $595

=$148.75