Henry invested $4,300 in an account paying an interest rate of 3.6% compounded quarterly. Assuming no deposits or withdrawals ar
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Answer:
Both Wolverine and James Bond will have paid the same amount after 10 months.
Step-by-step explanation:
Let x denotes the number of months after which both Wolverine and James Bond will have paid the same amount.
As Wolverine makes a $1000 down payment for a motorcycle and then pays $300 per month,
Amount paid by Wolverine in x months is equal to
As James Bond makes a $2500 down payment for a motorcycle and then pays $150 per month,
Amount paid by James Bond in x months is equal to
To find number of months after which both Wolverine and James Bond will have paid the same amount,
solve
So, both Wolverine and James Bond will have paid the same amount after 10 months.