IDNLearn.com provides a collaborative environment for finding accurate answers. Join our interactive Q&A platform to receive prompt and accurate responses from experienced professionals in various fields.
Sagot :
Sure, let's work through the problem step-by-step to find the amount owed for the installment loan.
### 1. Initial Details
- Initial Price of the Home Theater System: \[tex]$3000.00 - Discount Percentage: 10% - Down Payment: \$[/tex]400.00
### 2. Calculate the Discount Amount
We need to calculate the discount amount given the discount percentage (10%).
[tex]\( \text{Discount Amount} = \frac{\text{Discount Percentage}}{100} \times \text{Initial Price} \)[/tex]
Substituting the given values:
[tex]\( \text{Discount Amount} = \frac{10}{100} \times 3000.00 = 0.1 \times 3000.00 = 300.00 \)[/tex]
So, the discount amount is \[tex]$300.00. ### 3. Calculate the Price After Discount Now, subtract the discount amount from the initial price to determine the price after the discount. \( \text{Price After Discount} = \text{Initial Price} - \text{Discount Amount} \) Substituting the values we have: \( \text{Price After Discount} = 3000.00 - 300.00 = 2700.00 \) So, the price after the discount is \$[/tex]2700.00.
### 4. Calculate the Amount Owed After Down Payment
Finally, we subtract the down payment from the price after the discount to find the remaining amount owed.
[tex]\( \text{Amount Owed} = \text{Price After Discount} - \text{Down Payment} \)[/tex]
Substituting the values:
[tex]\( \text{Amount Owed} = 2700.00 - 400.00 = 2300.00 \)[/tex]
So, the amount owed for the installment loan is \$2300.00.
### 1. Initial Details
- Initial Price of the Home Theater System: \[tex]$3000.00 - Discount Percentage: 10% - Down Payment: \$[/tex]400.00
### 2. Calculate the Discount Amount
We need to calculate the discount amount given the discount percentage (10%).
[tex]\( \text{Discount Amount} = \frac{\text{Discount Percentage}}{100} \times \text{Initial Price} \)[/tex]
Substituting the given values:
[tex]\( \text{Discount Amount} = \frac{10}{100} \times 3000.00 = 0.1 \times 3000.00 = 300.00 \)[/tex]
So, the discount amount is \[tex]$300.00. ### 3. Calculate the Price After Discount Now, subtract the discount amount from the initial price to determine the price after the discount. \( \text{Price After Discount} = \text{Initial Price} - \text{Discount Amount} \) Substituting the values we have: \( \text{Price After Discount} = 3000.00 - 300.00 = 2700.00 \) So, the price after the discount is \$[/tex]2700.00.
### 4. Calculate the Amount Owed After Down Payment
Finally, we subtract the down payment from the price after the discount to find the remaining amount owed.
[tex]\( \text{Amount Owed} = \text{Price After Discount} - \text{Down Payment} \)[/tex]
Substituting the values:
[tex]\( \text{Amount Owed} = 2700.00 - 400.00 = 2300.00 \)[/tex]
So, the amount owed for the installment loan is \$2300.00.
We value your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Discover the answers you need at IDNLearn.com. Thank you for visiting, and we hope to see you again for more solutions.