Question

Ivanna just bought a refrigerator for $426. She paid $106.40 in a down payment and will pay the rest in 4 equal installments. How much does she need to pay for each installment?

Answer 1

After making a down payment of $106.40, Ivanna will need to pay the remaining balance of $319.60 in 4 equal installments, which amounts to $79.90 per installment.

Step-by-step explanation:

Ivanna needs to calculate the amount for each installment after her down payment on the refrigerator. First, let's subtract the down payment from the total cost of the refrigerator:

Total cost of refrigerator = $426

Down payment = $106.40

Remaining balance = Total cost - Down payment = $426 - $106.40 = $319.60

Now, to find the cost per installment, divide the remaining balance by the number of installments:

Number of installments = 4

Cost per installment = Remaining balance ÷ Number of installments = $319.60 ÷ 4 = $79.90

Therefore, Ivanna will need to pay $79.90 per installment.