Answer: See explanation
Step-by-step explanation:
Let the amount of money to be paid per month be represented by x. The information given in the question can then be formed into an equation as:
$40 + 12x = $460
From the equation, the amount that'll be paid monthly will be:
$40 + 12x = $460
12x = $460 - $40
12x = $420
x = $420/12
x = $35
The amount paid monthly is $35