If A new iPod costs $175 on the installment plan. You must make a down payment of $25 and make payments for 15 months. your monthly payment is $10.
How to find the monthly payment?
First step is to find the down payment
Down payment = Cost price - down payment
Down payment = $175 - $25
Down payment = $150
Second step is to find the monthly payment
Monthly payment = $150/ 15 months
Monthly payment = $10
Therefore the monthly payment is $10.
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