A tablet costs $400. You make a 20% down payment and finance the rest for 6 months with no interest. What is your monthly payment?
Answer
$53.33
How to solve it
1
Down payment: 20% of $400 = $80
2
Amount financed: $400 - $80 = $320
3
Monthly payment: $320 ÷ 6 = $53.33
Hints
Calculate the down payment first
Subtract from total to find financed amount
Divide by number of months