Question

A hospital sends an invoice to a patient. The patient schedules a payment plan in which she makes an initial payment of $1,451 the first month and then pays one-third of the previous month’s payment each of the following months until the invoice is paid in full. Approximately how much of the invoice will be paid after the fourth month?
$1,451.00
$2,095.89
$2,149.63
$2,167.54

Answer 1

Answer:

$2,149.63

Step-by-step explanation:

She makes an initial payment of $1,451 and pays one-third of the previous month's payment each of the following months.

1/3 × $1,451 = $483.67 (second month)

$483.67 + $1,451 = $1,934.67

1/3 × $483.67 = $161.22 (third month)

$161.22 + $1,934.67 = $2,095.89

1/3 × $161.22 = $53.74 (fourth month)

$53.74 + $2,095.89 = $2,149.63

$2,149.63 of the invoice will be paid after the fourth month.

Hope that helps.