Question

Erica bought a road bike using the store’s payment plan. She made a $320 down payment and makes monthly payments of $91. If the total cost is $1,867, how many months will Erica be paying for the bike?

Answer 1

Answer: 17 months

Explanation:

Total cost of the bike = $1,867

Down payment = $320

so $1,867 - $320 = $1,547

$91 * 17 = 1,547

(17 = months) so $91 * 17 months = 1,547

Answer 2

The total cost of the bike is $1,867, and Erica made a down payment of $320. This means that she still owes:

$1,867 - $320 = $1,547

Each month, Erica pays $91 towards the cost of the bike. To find out how many months she will be paying, we need to divide the remaining cost by the monthly payment:

$1,547 ÷ $91/month ≈ 17 months

So Erica will be paying for the bike for approximately 17 months.