Donald owes the bank $9450. To repay his debt, he paid a fixed amount back to the bank each month. After 2.5 year(s), Donald's remaining debt was $5700. How much did Donald pay each month? How long will it take Donald to repay back the entire debt? months Round to 2 decimal places.

Donald owes the bank $9450. To repay his debt, he paid a fixed amount back to the bank each month. After 2.5 year(s), Donald's remaining debt was $5700. How much did Donald pay each month? How long will it take Donald to repay back the entire debt? months Round to 2 decimal places.

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.4: Geometric Sequences And Series

Problem 7SC

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Question

Donald owes the bank $9450. To repay his debt, he paid a fixed amount back to the bank each month. After 2.5 year(s), Donald's remaining debt was $5700.

How much did Donald pay each month?

How long will it take Donald to repay back the entire debt?

months
Round to 2 decimal places.

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