Question

Jeremy is $124.60 in debt to his grandparents. He determines that he can pay them back in five months. What effect will his repayment have on his monthly bank account?

Answer 1

Not enough info if anything it would just be 124.60 /5

Answer 2

Each month he will have to pay $24.92.

Explanation:

Jeremy is $124.60 in debt to his grandparents.

He determines that he can pay them back in five months.

That means each month he will have to pay =
`(124.60)/(5)` = $24.92

So, each month he will have to pay $24.92 through check or cash and this will show in his monthly transactions.