what is the amount owed for an installment lo...
what is the amount owed for an installment loan to purchase the item described in the table? finance plan product home theater system price $3000.00 discount 10% down payment $400.00
Answer
# Explanation:
## Step1: Calculate the discounted price
First, find the amount of the discount. The discount is 10% of the original price of $3000. The discount amount $d = 0.1\times3000=300$. The discounted - price $P_d=3000 - 300=2700$.
## Step2: Calculate the loan amount
The loan amount is the discounted price minus the down - payment. The down - payment is $400. So the loan amount $L = 2700-400 = 2300$.
# Answer:
$2300$