Matt has $550 in his savings account. He is eager to know how much interest the bank will pay him for the whole year. He knows t
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Given:
One time payment, <em>p </em>= $300
Payment per month, <em>q = </em>$65
Number of months paid, <em>n</em> = 5
The objectiv is to find the amount she paid in 5 months.
Let <em>x </em>be the amount she paid in 5 months. Then the the formula is,
Let's substitute the values.
Hence, total amount paid in 5 months is $625.