[B]A[/B]t Zabowood’s Gadget Store, some items are paid on instalment basis through credit cards. Clariza was able to sell 10 cellphones costing Php 18,000.00 each. Each transaction is payable in 6 months equally divided into 6 equal instalments without interest. Clariza gets 2% commission on the first month for each of the 10 cellphones. Commission decreases by 0.30% every month thereafter and computed on the outstanding balance for the month. How much commission does Clariza receive on the third month? Calculate Total Sales Amount: Calculate Total Sales Amount = 10 cellphones * 18000 per cellphone Calculate Total Sales Amount = 180000 Calculate monthly sales amount installment: monthly sales amount installment = Total Sales Amount / 6 monthly sales amount installment = 180000/6 monthly sales amount installment = 30000 per month Calculate Third Month Commission: Third month commission = First Month Commission - 0.30% - 0.30% Third month Commission = 2% - 0.30% - 0.30% = 1.4% Calculate 3rd month commission amount: 3rd month Commission amount = 1.4% * 30000 3rd month Commission amount = [B]420[/B]

Free Credit Card Balance Calculator - This calculator shows 3 methods for paying off a credit card balance on a monthly installment basis given an outstanding balance and an Annual Percentage Rate (APR):

1) Minimum Payment Amount
2) Minimum Percentage Amount
3) Payoff in Years

If you buy a computer directly from the manufacturer for $3,509 and agree to repay it in 36 equal installments at 1.73% interest per month on the unpaid balance, how much are your monthly payments? How much total interest will be paid? [U]Determine the monthly payment[/U] The monthly payment is [B]$114.87[/B] using our [URL='http://www.mathcelebrity.com/annimmpv.php?pv=3059&av=&pmt=&n=36&i=1.73&check1=1&pl=Calculate']annuity calculator[/URL] [U]Determine the total payments made[/U] Total payment is 36 times $114.87 = $4,135.37 [U]Now determine the total interest paid[/U] Take the total payments of $4,135.37 and subtract the original loan of $3,059 to get interest paid of [B]$1,076.37[/B]

Free Installment Sales Method of Accounting Calculator - Given a sales price, cost amount, installment payment amount and term, this will show the accounting for the Installment Payment method.