Question

Wang Yong owes the bank \$8500$8500dollar sign, 8500. To repay the debt, he paid a fixed amount back to the bank each month. After 121212 months, his remaining debt was \$6460$6460dollar sign, 6460.

Answer 1

Part A. Yong payed $170 dollars every month.

Part B. He took 50 months to pay his debt.

Explanation:

Look at attachment:

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Answer 2

Complete question :

Wang Yong owes the bank $8500. To repay the debt, he paid a fixed amount back to the bank each month. After 12 months, his remaining debt was $6460. How much did Wang Yong pay each month?

Answer:

$170

Explanation:

Given that:

Amount owed = $8500

Fixed amount replayed per month :

Amount left after 12 months = $6460

Amount paid per month :

Total amount paid over 12 months :

$(8500 - 6460) = $2040

Amount paid per month :

$2040 / 12

= $170