Tim borrows $500 from Moby to buy a X-Box. He agrees to pay him back $15 every month. Write an equation to find the balance, B left after m months?

1 Answer
Oct 5, 2017

#B=$500-mmxx($15)/mto# where #mm=#number of months

Assuming Moby does not charge interest other than sharing the use of the X-box.

Explanation:

The amount to pay back #=$500#
Each payment #=$15# every month or #($15)/m#

Payment plan is: #Pp=mmxx($15)/m#

where #mm=#number of months

Balance for any month is then: #B=$500-Pp#

So: #B=$500-mmxx($15)/mto# [ANS]

Then after 6 months, #B=$500-mmxx($15)/m#

#B=$500-(6)cancelmxx($15)/cancelm#

#B=$500-($90)=$410#