The Silvertons are looking at purchasing a new car for their family. Steve Silverton wants to purchase a 2019 Chevrolet Tahoe which will cost an initial amount of $2000 at the door and monthly payments that are 14.45% the amount of the initial down payment. Sally Silverton wants a more eco-friendly car and would rather buy a 2021 Nissan Leaf for an initial amount of $600 at the door and monthly payments that are 62.50% of the initial amount paid. In how many months would both options have the same amount paid off?

Question

02-03-2021
Mathematics

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The Silvertons are looking at purchasing a new car for their family. Steve Silverton wants to purchase a 2019 Chevrolet Tahoe which will cost an initial amount of $2000 at the door and monthly payments that are 14.45% the amount of the initial down payment. Sally Silverton wants a more eco-friendly car and would rather buy a 2021 Nissan Leaf for an initial amount of $600 at the door and monthly payments that are 62.50% of the initial amount paid. In how many months would both options have the same amount paid off?

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