Final answer:
To calculate the monthly payment for a used motorcycle after a down payment, subtract the down payment from the purchase price to find the remaining balance, then divide by the number of monthly installments. The monthly payment will be $75.
Step-by-step explanation:
The question asks us to calculate the monthly payment for a used motorcycle that was purchased for $2,250 with a down payment of $450. The remaining balance is to be paid over 24 equal monthly payments. To find the monthly payment, we need to first subtract the down payment from the purchase price to find the remaining balance that needs to be financed. Then, we divide this amount by the number of months over which the payments will be made.
So, the remaining balance after the down payment is $2,250 - $450 = $1,800. Then, we divide this by 24 to determine the monthly payment.
Monthly Payment = $1,800 / 24
Monthly Payment = $75
Therefore, the monthly installment for the motorcycle will be $75.