Question

what is the amount owed for an installment loan to purchase the item described in the table? finance plan product patio furniture price $2600.00 discount 20% down payment $100.00

Explanation:

Step1: Calculate the discount amount

The discount is 20% of the price. So, discount = 20% of $2600.00 = $2600.00 * 0.20 = $520.00

Step2: Calculate the price after discount

Price after discount = Original price - Discount = $2600.00 - $520.00 = $2080.00

Step3: Calculate the amount owed

Amount owed = Price after discount - Down Payment = $2080.00 - $100.00 = $1980.00

Answer:

$1980.00