# Layaway Plan Calculator

 Total Price w/tax: \$ Service Fee: \$ Down Payment (%): % Number of Additional Payments: Include Service Fee in: Additional Payments Down Payment Down Payment: \$ 0.00 Service Fee: \$ 0.00 Total Down Payment of: \$ 0.00 + additional Payments of: \$ 0.00

Online calculator to calculate the layaway plan down payment and additional payment amounts you will owe for the merchandise.

Layaway plans have recently seen a resurgence in popularity among stores like Sears and KMart.  Even some Apple stores have been offering layaway plans on computers and some online stores provide layaway plans.

### Layaway Calculations:

Assume you want to purchase a gift in a jewelry layaway plan.  The item you want to purchase will cost \$250 plus 6% sales tax equal to \$15 (calculator online for sales tax).  A total price of \$265.00.  Additionally you will pay a \$10 layaway plan fee, the jewelry seller requires a 25% deposit, and you will pay off the balance owed plus the fee with 4 additional payments.

Your down payment will be \$265 x 25% = \$66.25.

The balance you owe on the plan will be the price plus the fee minus the deposit you paid.
Or, the balance owed is \$265 + \$10 - \$66.25 = \$208.75.

Since you are making 4 payments the payment calculation is simply \$208.75 / 4 = \$52.19.

For this layaway plan you make a down payment of \$66.25 and 4 additional payments of \$52.19.