Sum of payments = number of payments x amount of payments
Finance charge = total cost - purchase price
Guided Exercises
1. Monique purchases a $5,100 dining room set. She can't afford to pay cash, so she
uses the installment plan, which requires an 18% down payment. How much is the
down payment?
Amount of down payment = decimal percent of down payment x purchase price
Amount of down payment = 0.18 x 5,100 =.
Write the percent as a decimal.
Monique will pay a down payment of