Jheian Kris bought a refrigerator at P36 450. She paid a down payment which is 30% of the cost and paid the balance in 12 equal monthly installments.
a. How much was the down payment?
b. How much is the monthly installment?
a. How much was the down payment?
b. How much is the monthly installment?
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Answer:
a. Down payment = P 10,935
b. Down payment = P 2,126. 25
Solution:
Let
Value (V) = P 36,450
Down payment rate = 0.30
a. D. P. = V (d. p. rate)
D. P. = P 36,450 (0.30)
D. P. = P 10,935. 00 answer
b.
Balance = V - DP
= 86,450 - 10,935
= P 25,515.00
Installment = P 25,515.00
12
Installment = P 2,126.25 answer
Value (v) : P36,450
Downpayment rate: 0.30
(a)
D.P = V ( d.p. rate)
D.P= P36,450 (0- 30)
: D.P =P10, 935-00
(b)
Balance : V- DP
: 36,450 - 10,935
: P25,515. 00
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P25,515. 00
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Installment : 12
Installment : P2,126,25
Answer:
a. D.P =P10, 935-00
b. P2,126,25