The $1,008 paid by the nobles(problem one) to buy the refrigerator included an interest charge of $135. what was the cash cost of the refrigerator?
problem one:
mr. and mrs. jack nobles bought a refrigerator for $1,008. they agreed to make 12 equal payments. how much more that $50 will each payment be?
answer to problem one: $34

cost of the refrigerator = $873

$34 will be more than $50 each payment

Step-by-step explanation:

Given data

principal = $1008

interest = $135

installment = 12

to find out

the cash cost of the refrigerator and  How much more that $50 will each payment

Solution

cost of the refrigerator = principal - interest      1

put the value principal and interest in equation 1

cost of the refrigerator = $1008 - $135

cost of the refrigerator = $873

we have installment 12 for $1008 i.e.

each installment = $1008 / 12

each installment = $84

for last part $84 each installment so we can say $84 - $50 = $34

$34 will be more than $50 each payment

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