17. Lavina wants to buy a rocking chair for $160. She'll pay 10% down and pay the rest in six monthly installments. What will be the amount of each monthly payment?
A. $27
B. $24
C. $26
D. $16
160*0.9/6 = 24
To calculate the amount of each monthly payment, we first need to determine the total amount that Lavina would be paying in installments.
Lavina plans to pay 10% down initially, which means she will pay $160 x 10% = $16 as a down payment.
Then, the remaining amount to be paid in installments would be $160 - $16 = $144.
Now, since Lavina plans to pay this amount in six equal monthly installments, we can divide $144 by 6 to find the amount of each monthly payment.
$144 ÷ 6 = $24
Therefore, the answer is B. $24.