what is the amount owed for an installment loan to purchase the item described in the table?\nfinance…

what is the amount owed for an installment loan to purchase the item described in the table?\nfinance plan\nproduct: tractor\nprice: $2800.00\ndiscount: 15%\ndown payment: $200.00

what is the amount owed for an installment loan to purchase the item described in the table?\nfinance plan\nproduct: tractor\nprice: $2800.00\ndiscount: 15%\ndown payment: $200.00

Answer

Explanation:

Step1: Calculate the discounted price

The discount is 15% of the original price of $2800. The price after - discount is $(1 - 0.15)\times2800$. $(1 - 0.15)\times2800=0.85\times2800 = 2380$

Step2: Calculate the amount owed

Subtract the down - payment from the discounted price. The down - payment is $200. $2380−200 = 2180$

Answer:

$2180$