Question

Simon wants to buy a car from a local dealership. The car he wants is $4500. He can give the dealership $1750 now. the dealership says he can pay the rest off in 12 installments. How much would each installment be? Round your answer to the nearest hundredth.

Answer 1

Each instalment would be $229.20

$\begin{gathered} \text{Balance Payment= 4500-1750}=2750 \\ \text{Each Instalment}=\frac{2750}{12}=229.166\approx229.20 \end{gathered}$