Chapter 12, Problem 1ES

To determine

To calculate: The price of installment of a notebook computer system if the down payment is $\$250$ and $12$ payments of $\$111.33$.

Answer to Problem 1ES

Solution:

The installment price for the notebook is $\underset{\_}{\$1585.96}$.

Explanation of Solution

Given Information:

The down payment is $\$250$ and $12$ payments of $\$111.33$.

Formula used:

Steps to find the amount of installment is as follows:

Step1: Determine the total amount of installments which is given by,

$\text{number of installments }\times \text{ installment payment}$

Step2: Determine the installment price which is given by,

$\text{total installment amount + down payment}$

Calculation:

Consider the amount of the installments $\$111.33$ and number of installments, $12$.

Evaluate the total amount of installments by multiply the number of installments with installment price.

$\begin{array}{c}\text{total amount of installments}=111.33\times 12\\ =1335.96\end{array}$

Consider the down payment, $\$250$

Evaluate the installment price by adding the total amount of installments with the down payment.

$\begin{array}{c}\text{installment price}=1335.96+250\\ =1585.96\end{array}$

Thus, the installment price for the notebook is $\$1585.96$.