Question

Sophia, Amelia and Oliver are planning a trip.

The cost of the transport for the trip is 1950.
They have to pay a deposit of 6% of this cost.
The rest of the cost of the transport is to be paid in 3 equal weekly
instalments.
Calculate how much each weekly instalment costs.

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Answer 1

$611 per week

Explanation:

The cost of the transport for the trip is 1950.

They have to pay a deposit of 6% of this cost.

The rest of the cost of the transport is to be paid in 3 equal weekly

instalments.

Calculate how much each weekly instalment costs.

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We will assume that the deposit is paid ahead of the rest of the weekly payment. So subtract 6% of the total cost of $1950 (assuming a currency of US dollars).

(0.06)*($1950) = $117

This is paid up front. The remainder is ($1950 - $117) = $1833.

This is divided by 3 to determine the installment due each week for 3 weeks: ($1833/3) = $611 per week