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Rashid's new bicycle cost $480.70 including accessories and taxes. His mother offered to help him pay for it by matching his payments of $25.00 each month. For how many months did Rashid and his mother have to make payments on the bike? How much did they each pay for the final payment?

a) 18 months; $10.35 each
b) 20 months; $12.20 each
c) 19 months; $13.10 each
d) 21 months; $15.05 each

1 Answer

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Final answer:

To calculate the number of months and the final payment for Rashid's bicycle, divide the total cost by the combined monthly payment. They would make 9 full payments and a final 10th payment of $15.35 each. It appears there is a discrepancy in the provided choices.

Step-by-step explanation:

The student is asking how many months Rashid and his mother would have to make payments for Rashid's new bicycle that cost $480.70, with each of them paying $25 each month. To find out how many months it would take, we divide the total cost of the bicycle by the combined monthly payment from both Rashid and his mother ($25 each, so $50 per month). $480.70 divided by $50 equals 9.614, which means they would need to make payments for 9 full months, with a partial 10th month. Therefore, the answer is that they would make 9 full payments of $25 each and a final 10th payment, where each would pay half of the remaining balance. The remaining balance would be $480.70 - (9 months * $50) = $480.70 - $450 = $30.70. Thus, the final payment each would make is $30.70 / 2 = $15.35. However, since this option is not available in the provided choices, it seems there was a miscalculation in the problem statement.

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