Lizzy: The cash price of a refrigerator was $8000. Samantha wanted to buy the refrigerator but pay in installments. If she paid a deposit of $3000 and paid 30 equal monthly installments of $300 each, calculate how much money she would have saved by paying cash..
Me: Hmmm, let me think. I think this is the detailed solution:
User
When Samantha paid $300 in 30 equal monthly installments, she paid a total of $9000. Since the higher purchase is a deposit plus the total monthly installments, Samatha paid $3000 + $9000 = $12000 for the refrigerator on higher purchase. If she would have bought the refrigerator on the cash prize, Samantha would have paid $12000 - to $8000 = $4000 less. Final answer: 4000.
Assistant