Question

Michael has a substantial student debt, but he recently got a new job, which came with a signing bonus. He calculates that with his new

job, he can put aside a fixed amount of money every month to pay off his debt. He also puts the entirety of his bonus towards paying off

his debt. He constructs the expression 36, 700 - (5,000+ 500m)to represent the size of his debt after m months. Which number

describes the value of his signing bonus?

I need help plz

Answer 1

Michael needs to save $63.40, approximately.

Explanation:

The given expression is

`36,700 - (5,000 + 500m)=0`

Where
`m` is months.

We need to solve for the variable.

`36,700-5,000-500m=0\\31,700=500m\\m=(31700)/(500) \approx 63.4`

Therefore, Michael needs to save $63.40, approximately.

Answer 2

The number representing describing the value of his signing bonus = 5,000.

Explanation:

Total debt = $36,700

He pays $500 every month from his monthly salaries, since m = months.

The $5,000 is the amount of his signing bonus, which puts entirely towards paying off his debt.

It is like the fixed payment. While the 500m is the variable payment per month.

So, at the end of any number of months, you can easily calculate the remaining debt using the expression, 36,700 - (5,000 + 500m)