Calculate Total Appliance Cost with 55% Add-On Interest Over Two Years

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

$ 1000$1000

down payment and agreed to monthly payments over

twotwo

years. Find the total cost, for the appliances plus interest.

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Simple Interest
Algebra
Finance

Total Interest = Principal * Interest Rate
Total Cost = Principal + Total Interest
Monthly Payment = (Total Cost - Down Payment) / Number of Months

Interest Calculation
Linear Equations

Grades 9-11

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