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Frank wants to buy an entertainment system that costs $500, including taxes. To pay for the entertainment system, he will use a payment plan the requires him to make a down payment of $125, and then pay $72.50 each month for 6 months. What is the percent increase from the original cost of the entertainment system to the cost of the entertainment system using the payment plan?

Answer :

bhuvna789456

The percent increase from the original cost of the entertainment system to the cost of the entertainment system using the payment plan is 12%.

Step-by-step explanation:

  • The original cost of entertainment system = $500
  • The cost using payment plan= $125+ ($72.50[tex]\times[/tex] 6)
  • cost by payment plan ⇒ 125+ 435 = $560

Percentage increase = (higher value - lower value/ lower value) [tex]\times[/tex] 100

⇒ ((560-500)/500) [tex]\times[/tex] 100

⇒ (60/500) [tex]\times[/tex] 100

⇒ 0.12 [tex]\times[/tex] 100

⇒ 12%

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