Answer:
Priya paid $22.5 in the third month
Step-by-step explanation:
Priya borrowed $160 from her grandmother.
Each month, she pays off one fourth of the remaining balance that she owes.
1st month:
$160*(1/4) = $40
So Priya paid $40 in the first month
$160 - $40 = $120
So Priya owes $120 after first month
2nd month:
$120*(1/4) = $30
So Priya paid $30 in the second month
$120 - $30 = $90
So Priya owes $90 after second month
3rd month:
$90*(1/4) = $22.5
So Priya paid $22.5 in the third month
The amount that she still owes is
$90 - $22.5 = $67.5
