SOLUTION: Al purchased a new refrigerator that cost $736.12 with interest included. He paid $100 as a down payment and agreed to pay the remainder in 18 monthly payments. What amount will he

Question 48169: Al purchased a new refrigerator that cost $736.12 with interest included. He paid $100 as a down payment and agreed to pay the remainder in 18 monthly payments. What amount will he be paying per month?
Answer by jbhsmith(2) (Show Source): You can put this solution on YOUR website!
There are a few different ways to solve a problem like this: The easiest way would be to work your problem in steps.
Step 1...Take the $736.12 and subtract the $100.00 down payment from that.
......... $736.12
-$100.00
_______
$636.12
Step 2...Divide the amount Al owes for the regrigerator which is $636.12, by
the number of monthly payments he would have to pay until the
refrigerator is paid off, which is 18.
.........18/636.12----I put the / in place of the division symbol. Hopefully
this wont confuse you.
.........18/$636.12 =$35.34.
Step 3. The monthly payment for Al's new refrigerator is $35.34.

RELATED QUESTIONS
Business and finance. Al purchased a new refrigerator that cost $736.12 with interest... (answered by checkley71)

Can someone help me on this? Al purchased a new refrigerator that cost $736.12 with... (answered by atif.muhammad)

Rochelle purchased an appliance that cost $815.56 with interest included. She paid $250... (answered by stanbon)

James purchased a home selling for $89,900 with a 15% down payment. The period of the (answered by Theo)

James purchased a home selling for $89,900 with a 15% down payment. The period of the (answered by Studenttttt)

I just want to make sure I did this problem right and if I didn't, could someone please... (answered by dabanfield)

Dale purchased a car for 26000. He paid 2,000 down and financed the rest over 5 years at... (answered by Alan3354)

Carl purchased a $286 car stereo at Worst Buy. He paid $16 at the time of purchase and... (answered by Natalie barton)

1. Suppose your parents are interested in buying a house that will cost $180,000. They... (answered by Boreal)