Question

Kevin just bought a refrigerator for 469. He paid 140.60 in a down payment and will pay the rest in equal installments. How much does he need to pay for each installment?

Answer 1

$54.73 monthly installment for 6 months.

Explanation:

Kevin just bought a refrigerator for $469.

He paid $140.6 in down payment and will pay the rest in equal installments.

If Kevin does not have to pay any interest and he will pay the rest amount in 6 months with monthly installments,

Then, the value of each installment will be =
`(469 - 140.60)/(6) = 54.73` Dollars. (Answer)