Question

an entertainment center is financed at a total cost of ​$2,389.75 including a down payment of ​$150 . if the center is financed over 24​ months, find the monthly payment.

Answer 1

First, we have to find the payment due after the down payment:

2389.75 - 150 = 2239.75

Now, assuming that the amount of money paid never changes, we simply divide the total amount of money due by the total amount of months:

2239.75/24 = 93.32 (I rounded to the nearest hundredth)

It will be financed at about $93.32 a month.