Question: A television sells for $900. Instead of paying the total amount at the time of the purchase, the same television can be bought by paying $50 down and $100 a month for 14 months. How much is saved by paying the total amount at the time of the purchase?
1. **State the problem:** We want to find how much money is saved by paying $900 upfront instead of paying $50 down plus $100 per month for 14 months.
2. **Identify the formula:** Total cost when paying in installments = Down payment + (Monthly payment × Number of months).
3. **Calculate the total installment cost:**
$$\text{Total installment cost} = 50 + 100 \times 14$$
4. **Perform the multiplication:**
$$100 \times 14 = 1400$$
5. **Add the down payment:**
$$50 + 1400 = 1450$$
6. **Calculate the savings by paying upfront:**
$$\text{Savings} = \text{Installment cost} - \text{Upfront cost} = 1450 - 900$$
7. **Subtract to find savings:**
$$1450 - 900 = 550$$
**Final answer:**
Paying the total amount at the time of purchase saves $550.