Dr.ritam buys a new refrigerator for Rs 28400.she pays Rs 8000 down and rest is paid off in equal monthly payments for over 2 years.what is the monthly payment?
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Answer:
Monthly Payment= Rs 850
Step-by-step explanation:
According to the Question,
On down payment of Rs 8000, Dr. Ritam Buy Refrigerator of Rs 28400
This implies that Rest Amount is 28400-8000= Rs 20400
Rs 20400 should be paid in 2 year on equal monthly payment = 20400/24 (2 year = 24 month)
Monthly Payment= Rs 850
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