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28 May, 23:55

Bo has $500 in his savings account. He plans to add $150 to his savings account every month. Recently, he purchased a tractor to use on his farm for $4,000. He plans to pay off the total price of the tractor over time by paying $200 a month. How much will Bo have in savings when he can pay off the tractor in full?

A. $2,000

B. $2,050

C. $2,100

D. $2,150

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Answers (2)
  1. 28 May, 23:59
    0
    He is right the answer is A. $2,000

    Step-by-step explanation:

    #plato
  2. 29 May, 00:05
    0
    A. $2,000

    Step-by-step explanation:

    Assuming that the money in the savings account will be used to pay off for tractor.

    let the number of months be m

    Savings after m months will be 500 + 150m

    After m months the installments paid will 200m

    To find the months it will take to pay for the tractor in m months, savings and the installments will be the price of the tractor. As an equation it be represented as below:

    500+150m + 200m = 4000

    150m + 200m = 4000-500 (grouping like terms)

    350m = 3500 (Making m the subject of the formula)

    350m/350 = 3500/350

    m = 10

    Substituting m into the equation of saving after m months

    Savings after m months will be 500 + 150m

    Savings after m months will be 500 + 150 (10)

    Savings after m months will be 500 + 1500

    Savings after m months will be $2000
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