To pay for college, a student borrows $5,000 interest-free from his father.If he pays his father back at the rate of $200 per month, how much will he still owe after 11 months?
A) $\quad \$ 1,800$
B) $\$ 3,130$
C) $\quad \$ 2,800$
D) $\quad \$ 2,200$
E) none of the above

Question

To pay for college, a student borrows $5,000 interest-free from his father.If he pays his father back at the rate of $200 per month, how much will he still owe after 11 months? 
A) $\quad \$ 1,800$
B) $\$ 3,130$
C) $\quad \$ 2,800$
D) $\quad \$ 2,200$
E) none of the above

Quizplus · Accepted Answer

After one month, the student will owe $(5000-200)=4800
After two months, the student will owe $(4800-200)=4600
After three months, the student will owe $(4600-200)=4400
$\vdots$
After eleven months, the student will owe $(5000-200\cdot11)=\boxed{\$ 2,800}$

To Pay for College, a Student Borrows $5,000 Interest-Free from His