Question

Can someone help me solve this please I have no idea how to write a algebra expression for this problem Assume the original price of the guitar was p dollars and heather made a 20% down payment for a one year installment purchase. The monthly payment was a dollars . Express the finance charge algebraically

Answer 1

Given the original price of the guitar as $p

20% down payment for one year installment purchase (12 months)

Monthly payment is $w

The finance charge will be

$=(20\text{\% of the price )+(w }\times12months)-\text{price}$

$\begin{gathered} Price\times downpayment=20\text{\% of p =}\frac{20}{100}\times p=0.2p \\ Installment\times monthly\text{ payment = }12\times w=12w \\ \end{gathered}$

The finance charge will be,

$\begin{gathered} =0.2p+12w-p \\ =12w+0.2p-p_{} \\ =12w+p(0.2-1) \\ =12w+p(-0.8)_{} \\ =12w-0.8p \end{gathered}$

Hence, the finance charge algebraically is 12w-0.8p