months

Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter3: Solving Equation And Problems
Section3.1: Transforming Equations: Addition And Subtraction
Problem 1E
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Aritmetic progression ( application)

Sara is given an interest-free loan to finance her floral business. She repays the loans in monthly installments. She repays US$20, the first month. US$22 the second month, repayments rise continually on at $2 per month until total repayment of the loan. Given that the final monthly payment is US$114.

 

  1. Identify that the number of months it will take Sara to repay the loan is 48 months.
  2. Find the amount, in US$, of the loan

 

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