Don and Linda would like to replace the hardwood flooring in their dining room. The flooring sells for $15.75 a square foot installed. The room size is 15 feet wide by 22 feet long. They can make a 20% down payment but will need to finance the rest at 12% for 42 months a. What is the down payment?
b. What is the amount financed?
c. What is the monthly payment?
d. What is the total finance charge?

a)  Down payment = $1039.50

b) Amount financed = $4158

c) Monthly payment =  $121.73

d) Total finance charge = $5112.66

Step-by-step explanation:

Area of rectangle = width × length

⇒ area of room = 15 × 22 = 330 ft²

Given:

⇒ Total cost of flooring = area × cost = 330 × 15.75 = $5197.50

a)  Down payment = 20% of $5197.50

                              = 0.2 × 5197.50

                              = $1039.50

b) Amount financed = total cost - down payment

                                 = 5197.50 - 1039.50

                                 = $4158

c) Monthly payment = =  $121.73

d) Total finance charge = monthly payment × number of months

                                       = 121.73 × 42

                                       = $5112.66

55

step-by-step explanation:

7

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