Alonzo wants to buy a bike for $260. He can pay for it in 8 months if he pays $60 now and $25 each month. If he were to pay $60 now and $20 each month, how many more monthly payments would it take to pay for it?
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To calculate how many more monthly payments would it take for Alonzo to pay for the bike if he pays $60 now and $20 each month, we need to compare the total amount paid in both scenarios.
In the first scenario, Alonzo pays $60 now and $25 each month over 8 months:
Total amount paid = $60 + $25 x 8 = $60 + $200 = $260.
In the second scenario, Alonzo pays $60 now and $20 each month:
Let's assume the number of additional payments needed is denoted by "x."
Total amount paid = $60 + $20 x x.
Since both scenarios result in the same total amount paid for the bike ($260), we can set up the following equation:
$260 = $60 + $20 x x.
Now, we can solve for "x":
$260 - $60 = $20x
$200 = $20x
Dividing both sides of the equation by $20:
$200 / $20 = x
10 = x
Therefore, Alonzo would need to make 10 more monthly payments of $20 each to pay for the bike in the second scenario.
To determine how many more monthly payments it would take for Alonzo to pay for the bike if he pays $60 now and $20 each month, we first need to find out how much he would have left to pay after 8 months.
Given that Alonzo pays $60 now and $25 each month for 8 months, we can calculate the total amount he pays in 8 months:
Total amount paid in 8 months = $60 (initial payment) + ($25 * 8 months)
Total amount paid in 8 months = $60 + $200
Total amount paid in 8 months = $260
Since the bike costs $260 in total and Alonzo has already paid this amount in 8 months, he would have nothing left to pay if he continues paying $25 each month.
Now, let's find out how many more monthly payments it would take for Alonzo to pay for the bike if he pays $60 now and $20 each month.
Total amount paid in X months = $60 (initial payment) + ($20 * X months)
Since the total amount paid in X months should equal $260, we can set up the equation:
$60 + ($20 * X) = $260
Let's solve this equation for X:
$20 * X = $260 - $60
$20 * X = $200
Divide both sides of the equation by $20 to isolate X:
X = $200 / $20
X = 10
Therefore, if Alonzo were to pay $60 now and $20 each month, it would take him 10 more monthly payments to pay for the bike.