Question

Kenya plans to make a Down payment plus monthly payments in order to buy a motorcycle. At one dealer she would pay 2,250 down and 150 each month. At another dealer , she would pay 2,950 down and 125 each month. After how many months would the total amount paid be the same for both dealers ? What would the amount be ?

After ( ) months Kenya will have paid $ ( ) for the bike at either dealer.

Answer 1

See below in bold.

Explanation:

Let the number of months he needs to pay be x , then

2250 + 150x = 2950 + 125x

50x = 2950 - 2250 = 700

x = 700 / 50

x = 14.

So the total amount is paid off in 14 months.

This amount = 2250 + 150 * 14 = 4350.