A loan of $500 is to be paid with two payments of $300, one in 3 months, and another in 6 months. The compound interest charged
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Hello!
Since Trey pays a flat monthly $6 fee, we can subtract that from the total bill:
$12.27 - $6 = $6.72
That leaves us with a total of $6.72 paid for minutes. We are told that Trey is charged 8 cents per minute of usage. Using the information above, we can create the following equation:
$0.08 x (minutes) = $6.72
Now divide $0.08 from both sides of the equation and simplify:
x (minutes) =
minutes = 84
We have now proven that Trey was billed for 84 minutes.
I hope this helps!