Question

1. Madison buys a $4,700 air conditioning system using an installment plan that requires 15% down. How much is the down payment?

2. Victor wants to purchase a boat that costs $1,420. He signs an installment agreement requiring a 20% down payment. He currently has $250 saved. Does he have enough for the down payment?​

Answer 1

Explanation:

1. Madison's down payment for the air conditioning system is 15% of $4,700, which is $705. therefore 15/100×$4700= $705

2. Victor's down payment for the boat is 20% of $1,420, which is $284. Since he has $250 saved, he doesn't have enough and is $34 short.

Answer 2

Answer:1. To find the down payment, we need to calculate 15% of the total cost of the air conditioning system.

The total cost of the system is $4,700.

To calculate the down payment, we can multiply the total cost by the percentage:

$4,700 x 0.15 = $705.

Therefore, the down payment is $705.

2. To determine if Victor has enough money for the down payment, we need to calculate 20% of the cost of the boat.

The cost of the boat is $1,420.

To calculate the down payment, we can multiply the cost by the percentage:

$1,420 x 0.20 = $284.

Victor currently has $250 saved.

Since $250 is less than $284, Victor does not have enough money for the down payment. He would need an additional $34 to meet the down payment requirement.