1. **State the problem:** Wang Yong owes 8500 and repays a fixed amount each month. After 12 months, the remaining debt is 6460. We need to find the monthly payment and the total time to repay the entire debt. 2. **Formula and rules:** Let the monthly payment be $p$. After 12 months, the debt decreases by $12p$. The remaining debt is initial debt minus total paid: $$8500 - 12p = 6460$$ 3. **Solve for $p$:** $$8500 - 12p = 6460$$ $$8500 - 6460 = 12p$$ $$2040 = 12p$$ $$p = \frac{2040}{12}$$ $$p = 170$$ 4. **Interpretation:** Wang Yong pays 170 each month. 5. **Find total time to repay entire debt:** Let total months be $t$. Then: $$8500 - pt = 0$$ $$8500 = 170t$$ $$t = \frac{8500}{170}$$ $$t = 50$$ 6. **Answer:** Wang Yong pays 170 each month and it takes 50 months to repay the entire debt.