Answer:
[tex]y = 25 + 46x[/tex] --- Equation
$46 monthly
Step-by-step explanation:
Given
[tex]Registration = \$25[/tex]
[tex]Total = \$577[/tex]
Solving (a): The equation
Out of $577, $25 is paid as registration fee
So, the members are left with $552 (i.e. $577 - $25) to pay over 12 months
Let the number of months be x and the total amount to pay be y.
The equation is:
[tex]y = Registration + Monthly * x[/tex]
[tex]y = 25 + \frac{552}{12}*x[/tex]
[tex]y = 25 + 46*x[/tex]
[tex]y = 25 + 46x[/tex]
Solving (b): The monthly payment
In (a) above, we established that:
"So, the members are left with $552 (i.e. $577 - $25) to pay over 12 months"
The monthly payment is:
[tex]Monthly = \frac{552}{12}[/tex]
[tex]Monthly = \$46[/tex]
