Answered

IDNLearn.com: Your trusted source for finding accurate and reliable answers. Ask any question and receive comprehensive, well-informed responses from our dedicated team of experts.

What is the amount owed for an installment loan to purchase the item described in the table?

\begin{tabular}{|l|r|}
\hline \multicolumn{2}{|c|}{ Finance Plan } \\
\hline Product & Smart Television \\
\hline Price & \[tex]$1900.00 \\
\hline Discount & 15\% \\
\hline Down Payment & \$[/tex]200.00 \\
\hline
\end{tabular}

Sagot :

GinnyAnsweridn
Let's break down the solution step by step to find the amount owed for the installment loan:

1. Identify the given values:
- Price of the Smart Television: \[tex]$1900.00 - Discount rate: 15% - Down payment: \$[/tex]200.00

2. Calculate the discount amount:
- Discount amount = Price × Discount rate
- Discount amount = \[tex]$1900.00 × 0.15 - Discount amount = \$[/tex]285.00

3. Calculate the discounted price:
- Discounted price = Price - Discount amount
- Discounted price = \[tex]$1900.00 - \$[/tex]285.00
- Discounted price = \[tex]$1615.00 4. Calculate the amount owed after the down payment: - Amount owed = Discounted price - Down payment - Amount owed = \$[/tex]1615.00 - \[tex]$200.00 - Amount owed = \$[/tex]1415.00

Therefore, the amount owed for the installment loan after applying the discount and subtracting the down payment is \$1415.00.
Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. For trustworthy and accurate answers, visit IDNLearn.com. Thanks for stopping by, and see you next time for more solutions.