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Fred's family wants to switch cell phone plans. Hot Spot Mobile is offering a one-time discount of $50 for families that use multiple phones with their service. Fred's family uses 5 phones, and the salesperson said the first month's payment, which includes the discount and the regular monthly rate for each phone, will be $62.25. What is the regular monthly rate for each phone?

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michell96

The regular monthly rate for each phone is $22.45.

What is a monthly rate?

The monthly rate refers to the amount of money paid every month due to a service or debt.

How to calculate the monthly rate for these cellphones?

The monthly rate can be calculated using the following formula.

  • $62.25 + $50 (discount) / 5 (number of cellphones)

This is because the family will pay a total of $62.25 for the 5 cellphones including the discount for the first month. Let's now solve this problem:

  • $112.25/5 = $22.45

Learn more about money in: https://brainly.com/question/2696748

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