Aaron needs to take out a loan to purchase a motorcycle. At one bank, he would pay $2500 initially and $150 each month for the loan. At another bank, he would pay $3000 initially and $125 each month. After how many months will the loan payments be the same?

Aaron needs to take out a loan to purchase a motorcycle. At one bank, he would pay $2500 initially and $150 each month for the loan. At another bank, he would p class=

Answer :

KoOTz
Hi
3000+125x=2500+150x
500=25x
x=500/25
x=20
Therefore the answer will be 20 months.
All the best!

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.

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