Question

Wang Yong owes the bank

$


8


5


0


0


$8500dollar sign, 8500. To repay the debt, he paid a fixed amount back to the bank each month. After


1


2


1212 months, his remaining debt was


$


6


4


6


0


$6460dollar sign, 6460.


How much did Wang Yong pay each month?


space


$


$dollar sign


How long did it take Wang Yong to pay back his entire debt?


space


months

Answer 1

Wang Yong paid $170 each month and it took him 38 months to pay back his entire debt.

Step-by-step explanation:

To find out how much Wang Yong paid each month, we can subtract the remaining debt from the initial debt and divide it by the number of months. In this case, $(8500 - 6460) = $2040 is the amount he paid over 12 months. So, Wang Yong paid $(2040 / 12) = $170 each month.

To calculate how long it took Wang Yong to pay back his entire debt, we need to divide the remaining debt by the monthly payment amount. $(6460 / $170) = 38. So, it took Wang Yong 38 months to pay back his entire debt.

Answer 2

I think the answer is 6