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Sid is $300 in debt. He needs to get the debt down to no more than $100 within the next 8 mouths .If he pays the same amount each mouth, what is the minimum he must pay off each…

Sid is $300 in debt. He needs to get the debt down to no more than $100 within the next 8 mouths .If he pays the same amount each mouth, what is the minimum he must pay off each…
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Sid is $300 in debt. He needs to get the debt down to no more than $100 within the next 8 mouths .If he pays the same amount each mouth, what is the minimum he must pay off each mouth to manage this?

User Dan Gayle
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1 Answer

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He needs to pay off at minimum $200 in 8 months, given by the equation:

300 - 100 = 200
Divide the amount required by the months he has to pay, and you get your total that he has to pay each month.

200 / 8 = 25
$25 each month.
User Cheshireoctopus
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8.1k points
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