Question

3.) you can buy an mp3 changer for a cars audio system for $25 down and a total installment price of $297.34. you pay $30.26 per month. for how many months will you have to make payments?
4.) a novelty watch that sells for $60 cash may be bought for $6 down and $5.76 a month for 10 months. by what percent is the installment price greater than the cash price?

Explanation:

Problem 3:

Step1: Calculate total amount paid in installments

First, we know the total installment price is $297.34, and the down payment is $25. So the amount paid in monthly installments is the total installment price minus the down payment. Let \( M \) be the amount paid in monthly installments. Then \( M = 297.34 - 25 = 272.34 \).

Step2: Calculate number of months

We pay $30.26 per month. Let \( n \) be the number of months. We know that the total monthly payment is \( 30.26 \times n \), and this should equal \( M \). So we solve for \( n \): \( n=\frac{272.34}{30.26} \).
Calculating \( \frac{272.34}{30.26} = 9 \).

Step1: Calculate total installment price

The down payment is $6, and the monthly payment is $5.76 for 10 months. So the total installment price \( I \) is down payment plus total monthly payments. Total monthly payments is \( 5.76 \times 10 = 57.6 \). Then \( I = 6 + 57.6 = 63.6 \).

Step2: Calculate the difference between installment and cash price

The cash price \( C \) is $60. The difference \( D = I - C = 63.6 - 60 = 3.6 \).

Step3: Calculate the percentage increase

The percentage increase is calculated by \( \text{Percentage Increase}=\frac{D}{C}\times 100 \). Substituting the values, we get \( \frac{3.6}{60}\times 100 = 6\% \).

Answer:

9 months

Problem 4: