Question

Kenya plans to make a down payment plus monthly payments in order to buy a motorcycle. at another dealer, she would pay $2500 down and $150 each month. At another dealer she would pay $3000 down and $125 each month. after how many months would the total amount paid be the same for both dealers? What would be amount be?

Answer 1

2500 + 150m = 3000 + 125m
150m - 125m = 3000 - 2500
25m = 500
m = 500/25
m = 20 months

2500 + 150(20) = 5500
3000 + 125(20) = 5500

In 20 months, the total amount paid would be the same.... 5500