Layaway Plan Calculator

Calculate your down payment and installment amounts

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Payment Summary

Item Price: $250.00
Sales Tax: $15.00
Total Price: $265.00
Layaway Fee: $10.00
Down Payment: $66.25
Balance Owed: $208.75
Each Additional Payment: $52.19

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.

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.

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 each.