Question 7 Solve the problem The installment price of a watc

Question 7

Solve the problem.

The installment price of a watch is $310.74 with 6 monthly payments and a down payment of $30. Find the monthly payment.

$280.74

$16.74

$19.26

$46.79

Solution

Let the monthly payment be x

Installment Price = Down Payment + (Number of Monthly Payments) * (Amount of Monthly Payment)

$310.74 = 30 + 6 * x

6x = 310.74 - 30

6x = 280.74

x = 280.74/6 = 46.79

Hence the monthly payments amounts to $46.79

Hence the correct answer is Option D