Question

2. Linda bought a washer and dryer from Millpage Laundry Supplies for y dollars. She signed an

installment agreement requiring a 15% down payment and monthly payments of x dollars for one
year.
a. Express her down payment algebraically.
b. How many monthly payments must Linda make?
c. Express the total amount of the monthly payments algebraically.
d. If Linda models her payment plan as an arithmetic sequence, give the first term a
and the common ratio d
e. Express the total amount Linda pays for the washer and dryer on the installment plan
algebraically.
f. Express the finance charge algebraically.

Answer 1

a. 0.15y

b. 12 months

c. 12x

d. a1 = 0.15y, d = x

e. 12x + 0.15y

f. (12x + 0.15y) - y = 12x - 0.85y

Explanation:

If y = cost of washer and dryer

x = cost for one month.

Down payment = 0.15y

Numbers of months = 12months

Amount of monthly payment = 12x

First term and common ratio = a1 = 0.15y and d = x

Total amount for washer and dryer 12x + 0.15y

Finance charge

(12x + 0.15y) - y

12x - 0.85y