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Answer to Question #135894 in Financial Math for Dar
Question #135894
John bought a $2,250 lawn mower on an installment plan. installment agreement included 12% down payment in 18 monthly payments of $138 each. How much is the down payment
Expert's answer
the down payment is the initial payment/deposit made on stuff to be bought on credit which is a percentage of the purchasing price so;
D = 0.12 x 2250 = 270
the down payment will be $270
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