The hire purchase price of a table is $700.00 dollars. Mark buys the table by making a down payment of $100.00 followed by 12 monthly installments. How much money is each installment?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 19E
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1. The hire purchase price of a table is $700.00 dollars. Mark buys the table by making a down payment of $100.00 followed by 12 monthly installments. How much money is each installment?

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