Question

bo has $500 in his savings account. he plans to add $150 to his savings account every month. recently, he purchased a tractor to use on his farm for $4,000. he plans to pay off the total price of the tractor over time by paying $200 a month from a separate account. how much will bo have in his savings at the time he pays off the tractor in full?

Answer 1

He will have $3500 in his account.

It will take 20 months to pay off the tractor. $4000 divided by $200 is 20.

Take 20 times $150 and that is $3000.

Add $3000 to the $500 he already had in his account. That is $3500