Smith’s Trailer Sales will finance a 16-foot utility trailer with ramps and electric brakes. If a down payment of 87.75 are required, what is the installment price of the trailer?
First find the total of the installment payment.
Total of installment = number of installments * installment payment
= 8 * 87.75
8 * 87.75 = 702 + 702 + 782
Therefore, the installment price is $782.