Math Problem Statement
The total cost of the appliances, plus interest, is the down payment plus the total amount to be repaid. eema bought appliances costing
$37253725
at a store charging
55%
add-on interest. She made
aa
$ 1000$1000
down payment and agreed to monthly payments over
twotwo
years. Find the total cost, for the appliances plus interest.
OK
Solution
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Math Problem Analysis
Mathematical Concepts
Simple Interest
Algebra
Finance
Formulas
Total Interest = Principal * Interest Rate
Total Cost = Principal + Total Interest
Monthly Payment = (Total Cost - Down Payment) / Number of Months
Theorems
Interest Calculation
Linear Equations
Suitable Grade Level
Grades 9-11
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