Mr. Jones purchased a refrigerator for x dollars under an installment plan. The plan requires Mr. Jones to make a 15% down payment and monthly
payments of y dollars over a period of 24 months.
Use the given expressions to determine the finance charge that Mr. Jones paid.
24x - 0.85y
0.85x + 24y
0.15x
15y
24y - 0.85%
0.15x + 24y
(24y
15
0.85%
down payment
number of monthly payments
total amount paid as monthly payments

Explanation:

The finance charge is the difference between the amount paid for the purchase with financing and the amount you would pay if you do not finance the purchase, that is, if you buy it in cash.

The amount paid with financing is the down payment plus all the montly payments. This is:

The amount that you would pay without financing is the price of the refrigerator:

The difference is:

legislative branch:

one of the three branches of government divided between the senate and the house of representatives.

- creates or makes laws

- power to override a veto

executive branch:

one of the three branches of government, headed by the president.

- enforces or carries out laws

- power to veto a bill sent to it by congress

judicial branch:

one of the three branches of government, headed by the chief justice of the supreme court.

- interprets laws

- power to declare laws or actions by the government unconstitutional