You are going on a vacation that will cost $7,500. You plan to pay for it using an installment plan but only want to finance $1,200. What percent of the total cost should the down payment be?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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You are going on a vacation that will cost $7,500. You plan to pay for it
using an installment plan but only want to finance $1,200. What percent
of the total cost should the down payment be?
Transcribed Image Text:You are going on a vacation that will cost $7,500. You plan to pay for it using an installment plan but only want to finance $1,200. What percent of the total cost should the down payment be?
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