10. Carl wants to buy a television that costs $400, including taxes. To pay for the television, he will use
a payment plan that requires him to make a down
payment of $150, and then pay $70.50 each month
for 6 months. What is the percent increase from the
original cost of the television to the cost of the
television using the payment plan?

Calculate the total he will pay:

70.50 x 6 months = 423

423 + 150 = 573

He pays a total of 573

Find the difference from what he pays to what the actual price was:

573 - 400 = 173

Divide the difference by the actual price:

173 / 400 = 0.4325

Multiply by 100:

0.4325 x 100 = 43.25% increase

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.