Question

A dishwasher sold for a $983 installment price with a down payment of $150 and 12 monthly payments. How much is each payment?

Answer 1

$69.4167

Explanation:

Data provided in the question:

Installment price of the dishwasher = $983

Down payment for the dishwasher = $150

Total duration of the payment = 12

The amount of the installments payment = ( $983 - $150 ) = $833

Thus,

Each payment for the installment

= ( Installment payment amount ) / ( Total duration )

on substituting the values, we get

Each payment for the installment = $833 / 12 = $69.4167