Finding fixed amount deposited

Mathematics
Tutor: None Selected Time limit: 1 Day

Tom is saving $3000.  He deposits $200, then a fixed amount every month for 5 months. Then gets a check for 3 times the total amount saved so far. When depositing the check, he now has $400 extra.  What was the fixed amount deposited each month?

May 17th, 2015

tom saving 3000 dollars

deposit 200 dollars

let the fixes amount be x


total saving for 5months =5x

3 x 5x

=15x=3000 +400

15x=3400+200

x=3600/15

x=240

the fixed amount is 240 dollars

May 17th, 2015

That's incorrect. That would make the final total to be $4200, instead of $3400.  

240 (fixed amount) x 5 (months) = 1200

1200 + 200 (initial amount deposited) = 1400

1400 x 3 (amount for the check deposit) = 4200

May 17th, 2015

OK THANKS FOR THE CORRECTION I HAVE APPRECIATED I INCURRED ERROR OF ADDITION

May 17th, 2015

Do you know what the fixed amount would be?

May 17th, 2015

280

May 17th, 2015

$280 would be equivilant to $4800.  I need the total to equal $3400.  It must be a smaller amount than $200 to make sense.  Do you know how to set up the problem, or do I need to ask someone else?

May 17th, 2015

3400/15

=226.67 DOLLARS

May 17th, 2015

Please, check your work.  There is no possible way for it to be over $200.  If it was $226, as you stated, the balance would be $4590.

May 17th, 2015

let me check and I will get back to you

May 17th, 2015

Are you studying on the go? Check out our FREE app and post questions on the fly!
Download on the
App Store
...
May 17th, 2015
...
May 17th, 2015
Dec 3rd, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer