Math

QuestionA hospital patient owes \$550 and pays \$50 monthly. How much is left after 2 payments? A. \$50 B. \$100 C. \$400 D. \$450 E. \$500

Studdy Solution

STEP 1

Assumptions1. The overdue balance is 550.Thepatienthasagreedtomake11monthlypaymentsof550. The patient has agreed to make11 monthly payments of 50 each3. No interest fees will be charged if the bill is paid within1 year4. We are asked to find the remaining balance after monthly payments

STEP 2

First, we need to calculate the total amount paid after2 monthly payments. We can do this by multiplying the monthly payment by the number of payments made.
Totalpaid=MonthlypaymenttimesNumberofpaymentsTotal\, paid = Monthly\, payment \\times Number\, of\, payments

STEP 3

Now, plug in the given values for the monthly payment and the number of payments to calculate the total amount paid.
Totalpaid=$50times2Total\, paid = \$50 \\times2

STEP 4

Calculate the total amount paid after2 monthly payments.
Totalpaid=$50times2=$100Total\, paid = \$50 \\times2 = \$100

STEP 5

Now that we have the total amount paid, we can find the remaining balance. This is done by subtracting the total amount paid from the original overdue balance.
Remainingbalance=OverduebalanceTotalpaidRemaining\, balance = Overdue\, balance - Total\, paid

STEP 6

Plug in the values for the overdue balance and the total amount paid to calculate the remaining balance.
Remainingbalance=$550$100Remaining\, balance = \$550 - \$100

STEP 7

Calculate the remaining balance after2 monthly payments.
Remainingbalance=$550$100=$450Remaining\, balance = \$550 - \$100 = \$450The patient will owe $450 after she makes2 monthly payments.

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