find interest, cost for HDTV w/ $600 down, $30/mo for next 3 years.

[SalmaSon]

How would I solve this problem? TV Town sells a big screen smart HDTV for $600 down and monthly payments of $30 for the next 3 years. If the interest rate is 1.25% per month on the unpaid balance, find (a) the cost of the TV. (b) the total amount of interest paid.

 

[mmm4444bot]

How would I solve this problem? TV Town sells a big screen smart HDTV for $600 down and monthly payments of $30 for the next 3 years. If the interest rate is 1.25% per month on the unpaid balance, find (a) the cost of the TV. (b) the total amount of interest paid.

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What have you tried or thought about, so far? Where are you getting stuck?

 

[stapel]

How would I solve this problem?

Probably by using the method(s) and formula(s) they taught you in class!

TV Town sells a big screen smart HDTV for $600 down and monthly payments of $30 for the next 3 years. If the interest rate is 1.25% per month on the unpaid balance, find:

(a) the cost of the TV

How many months are in one year? (Look this up, if you don't know.)

Then how many months are in three years? (Hint: Multiply.)

Then how much is paid by monthly payments? (Hint: Multiply.)

Then how much is paid in total? (Hint: Add.)

(b) the total amount of interest paid.

What formula did they give you for this?

When you reply, please include a clear listing of your work and reasoning so far. Thank you!