Lavina wants to buy a rocking chair for $160. She will pay 10% down and pay the rest in six monthly installments. What will be the amount of each monthly payment?

Goldwaagefhu

Goldwaagefhu

Answered question

2022-12-27

Lavina wants to buy a rocking chair for $160. She will pay 10% down and pay the rest in six monthly installments. What will be the amount of each monthly payment?

Answer & Explanation

feesjaara54

feesjaara54

Beginner2022-12-28Added 10 answers

10% of the cost is the rocking chair's down payment, so 90% of the cost will be paid in 6 equal monthly installments (100- 10%).
Now, 90% of $160=$(16090100)=$144 is to be paid in 6 equal monthly installments.
Hence, each installment will amt. a sum of =$1446=$24.

Do you have a similar question?

Recalculate according to your conditions!

Ask your question.
Get an expert answer.

Let our experts help you. Answer in as fast as 15 minutes.

Didn't find what you were looking for?