Diane owes $232.20 for a gown for a special occasion. She pay for the gown in 4 1/12 months. What will her monthly payment be? What is her last payment?

2 Answers
Jan 22, 2017

There is not really enough information to answer this with confidence.

Monthly payment =$56.87 per month
Last payment =$61.59

Explanation:

color(brown)(1/12" of a month is an unexpected value. Could you mean years?")

Making assumptions about the distribution of payment values.
There will be other ways of doing this.

The use of 'unit payment' is just a trick to solve this problem type. It is a (constant of proportionallity) way of measuring the distribution of payment. Nothing else!

4 1/12 " months"= 49/12" months"

So 49xx"unit payment" = $232.20

=>1 unit payment =($232.20)/49~~$4.738.....

There are 12 units of payments in 1 month (12/12=1)

So we have 3 months at 12xx4.738... = $56.87 per month rounded to 2 decimal places

This gives a total payment at the end of 3 months of

3xx$56.87= $170.61

So the payment for the last month is: $232.20-$170.61=$61.59

Jan 22, 2017

An interpretation of the question that is different to my first one.

4 payments at $56.86 to 2 decimal places
Last payment at $4.74 to 2 decimal places

Explanation:

You should read through my other solution first to see where the numbers come from.

There are 5 payments

4 1/12 " months"= 49/12" months"

So 49xx"unit payment" = $232.20

=>1 unit payment =($232.20)/49~~$4.738.....

There are 12 units of payments in 1 month (12/12=1)

4 payments at 12xx$4.738.. ->4xx$56.8553... =$227.46
Closing payment at $4.738 " "->" "ul(" "$4.74)
" "$232.20