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 gazebo price $5,000.00 discount 15% down payment $250.00
Answer
# Explanation:
## Step1: Calculate the discounted price
First, find the amount of the discount. The discount rate is 15% or 0.15. The original price of the gazebo is $5000. The discount amount is $5000\times0.15 = 750$. The discounted - price is $5000−750=4250$.
## Step2: Calculate the loan amount
The down - payment is $250. To find the amount owed (loan amount), subtract the down - payment from the discounted price. So, the amount owed is $4250 - 250=4000$.
# Answer:
$4000$