Question

Shania bought a $1,455 drum set on an installment plan. The installment agreement included a 15% down payment and 18 monthly payments of $80.78 each. How much will Shania pay for the drum set on the installment plan

Answer 1

Shania will pay a total of $1,673.49 for the drum set on the installment plan.

Step-by-step explanation:

To calculate the total amount Shania will pay for the drum set on the installment plan, we need to consider the down payment and the monthly payments.

1. First, calculate the down payment by multiplying the price of the drum set by the down payment percentage: $1,455 * 0.15 = $218.25
2. Next, calculate the total amount of the monthly payments by multiplying the monthly payment amount by the number of months: $80.78 * 18 = $1,455.24
3. Finally, add the down payment to the total amount of the monthly payments to find the total amount Shania will pay: $218.25 + $1,455.24 = $1,673.49

Therefore, Shania will pay a total of $1,673.49 for the drum set on the installment plan.