Question

Penny Banks purchased a new washer and dryer for $1,526.39. She used the store's credit plan and made a 25% down payment. How much did she finance?

Answer 1

Penny Banks made a 25% down payment, which means she paid 75% of the total cost through financing.

The amount she paid as a down payment is:

25% of $1,526.39 = 0.25 x $1,526.39 = $381.60

So the amount she financed is:

$1,526.39 - $381.60 = $1,144.79

Therefore, Penny Banks financed $1,144.79.