Max bought tools costing $75. He made a $30 down payment and plans to pay off the rest of the money in 5 monthly installments. How much will Max’s monthly payments be?

Respuesta :

Amount financed
75−30=45

Monthly payment
45÷5=9
We did $75 minus $30 because he paid $30.  That left $45.

Then we did 45 divided by 5 (because there were 5 monthly payments) and got $9 each month.