MontrealI554302 MontrealI554302
  • 25-10-2022
  • Mathematics
contestada

Christian buys a $3500 computer using an installment plan that requires 17% down and a 3.7% interest rate. How much is the down payment?

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SherriJ679597 SherriJ679597
  • 25-10-2022

1) Gathering the data

$3500 computer

17% down

3.7% interest rate.

2) Since we want to know how much is that down payment, we must turn that 17% into decimal form, then multiply it by the computer value:

17%=0.17

3500 x 0.17 = $595

3) So Christian must pay $595 as the down payment

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