Lavina wants to buy a chair for $160. She will pay 10% down and pay the rest in 6 monthly installments. What will be the amount of each monthly payment?

Question

I've tried every possible solution for this. Nothing works for me. Help!? 

Answer 1

160 * 0.1 = 16

So her down payment is $16

 

160 - 16 = 144

So she has $144 left.

 

Since she'll be paying the rest in 6 payments, we divide what is left by 6:

144 / 6 = 24

 

So her monthly payment is $24.