SOLUTION: Jerry makes a purchase that allows him to spread the payments over time. The total purchase is $1,200.00. He makes a 25% down payment, and then pays the rest in three equal, intere

Question 552613: Jerry makes a purchase that allows him to spread the payments over time. The total purchase is $1,200.00. He makes a 25% down payment, and then pays the rest in three equal, interest-free monthly installments. How much is each monthly installment?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
His down payment is

He has
left to pay in 3 installments

Each monthly installment is $300
RELATED QUESTIONS
A store advertises that during Labor Day sale $15 will be deducted from every purchase... (answered by addingup)

Joel is considering putting a $1700 laptop purchase on his credit card, which has an... (answered by ikleyn,MathLover1)

Dominique is purchasing a car priced at $20,000. At the time of purchase, he will also... (answered by math_tutor2020)

a man buys a house for R200000. he makes a R50000 down payments and agree to amorised the (answered by jorel1380)

Steven plans on fining a summer job, so he can earn enough money to buy a new laptop that (answered by josgarithmetic)

Two people purchase a $90000 house using a down payment of $20000. They can amortize the... (answered by Theo)

I have two problems I need help setting up. hers the first one. Jerry is a purchasing... (answered by stanbon)

Jerry wants to purchase some items whose cost function is c=3x + 5, where x is the number (answered by rfer)

[ Jerry wants to purchase some items whose cost function is c=3x+5, where x is the number (answered by TimothyLamb)