Answer:
20 months
Step-by-step explanation:
Let x represent the number of months.
We have been given that at one bank, Aaron would pay $2500 initially and $150 each month for the loan. So amount paid in x months would be [tex]150x+2500[/tex].
We are also told that at another bank, Aaron would pay $3000 initially and $125 each month for the loan. So amount paid in x months would be [tex]125x+3000[/tex].
To find the number of months when both loan payments will be the same, we will equate both expressions as:
[tex]150x+2500=125x+3000[/tex]
[tex]150x-125x+2500=125x-125x+3000[/tex]
[tex]25x+2500=3000[/tex]
[tex]25x+2500-2500=3000-2500[/tex]
[tex]25x=500[/tex]
[tex]\frac{25x}{25}=\frac{500}{25}[/tex]
[tex]x=20[/tex]
Therefore, after 20 months both loan payments would be the same.
