Question

Sid is $300 in debt. He needs to get the debt down to no more than $100 within the next 8 mouths .If he pays the same amount each mouth, what is the minimum he must pay off each mouth to manage this?

Answer 1

He needs to pay off at minimum $200 in 8 months, given by the equation:

`300 - 100 = 200`
Divide the amount required by the months he has to pay, and you get your total that he has to pay each month.

`200 / 8 = 25`
$25 each month.