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Max bought tools costing $75. He made a $30 down payment and plans to pay off the rest of the money in 5 monthly installments. How much will Max’s monthly payments be?
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4 votes
Max bought tools costing $75. He made a $30 down payment and plans to pay off the rest of the money in 5 monthly installments. How much will Max’s monthly payments be?

User Freejosh
by
7.0k points

2 Answers

7 votes
Amount financed
75−30=45

Monthly payment
45÷5=9
User Cdyer
by
7.2k points
3 votes
We did $75 minus $30 because he paid $30. That left $45.

Then we did 45 divided by 5 (because there were 5 monthly payments) and got $9 each month.
User Paul Staab
by
7.6k points
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