Question

Select the correct answer from each drop-down menu. harold purchased a new snowmobile. the dealer gave him an option to pay the purchase price of x dollars at 100 dollars per month for y months. he would pay the remaining balance amount the following month. which type of payment plan did the dealer offer harold? the dealer gave harold . the expression for the amount of harold�s last payment is

Answer 1

The payment plan the dealer offered Harold is an "installment plan with a down payment."

The expression for the amount of Harold’s last payment would be x - 100y.

In an "installment plan with a down payment," Harold is given the option to pay the purchase price of x dollars at a rate of 100 dollars per month for y months. Typically, such plans involve making regular fixed payments over a specified period, in this case, y months, with a down payment of 100 dollars per month.

At the end of the installment period, Harold pays the remaining balance amount. Since he has already paid 100 dollars per month for y months, the total amount paid up to that point would be 100 × y = 100y dollars.

The remaining balance would then be the total purchase price (x dollars) minus the total amount already paid (100y dollars), which gives us the expression for the amount of Harold’s last payment as x - 100y dollars. This amount covers the remaining balance after the installment payments have been made.

Answer 2

As the healer gave Harold a deferred payment plan, the expression for the amount of his last payment will be
`x - 100y`.

A deferred payment plan in a loan allows the borrower to delay making some or all of their payments until a later agreed-upon date such as after a specified period or event.

The dealer offered Harold a deferred payment plan. In this plan, Harold pays $100 per month for y months, and the remaining balance amount is paid in the following month.

The expression for the amount of Harold's last payment will be calculated as x - 100y.

This means that after making y monthly payments of $100 each, the final payment will clear the remaining balance which is x - 100y dollars.