Kelly purchased a toaster for $105. She made a down payment of 15% and financed the rest for 6
Months with payments of $21.50. Find (a)the down payment and (b)the total installment price of
The toaster.
A)$15.75, $144.75
B)$15.75, $130.28
C)$17.33, $159.23
D)$14.18, $144.75

Question

Quizplus · Accepted Answer

(a) The down payment can be found by multiplying the cost of the toaster by the percentage of the down payment:

Down payment = 0.15 x $105 = $15.75

(b) The total cost of the toaster is the sum of the down payment and the total amount paid over the 6 months:

Total cost = Down payment + (6 x $21.50) = $15.75 + $129 = $144.75

Therefore, the correct answer is (A).

Kelly Purchased a Toaster for $105