Question

What Cecily cars needs a new transmission she’s stuck with a bill for $1987 the dealership offers her a18 equal installments. Find the payment. Round intermediate steps to the nearest cent.

Answer 1

SOLUTION:

Case: Installment payments

Given:

A bill for $1987

A 18 equal installments

Required: Find the payment on each installment

Method:

Because the total payments of $1987 has to be paid in 18 installments. We divide to get each installment

$\begin{gathered} \frac{1987}{18} \\ 110.39 \end{gathered}$

Final answer:

The monthly payments to the nearest cent is: $110.39