web2.0calc
 
+0  
 

honnors algebra cant figure it out

0
759
2
avatar
lets say you take out a $15,000 car loan at 12% interest. you decide to pay 350 a month. your payment is paid on the 25 th of each month and your interest is assessed the last day of the month. how many months will it take to pay off your loan?
 Sep 6, 2012

2+0 Answers

 #1
avatar
0
Never! Try the first month: (15 000$ -350$ ) * 12% = 16 408$ The interest keeps getting worse.
 Sep 7, 2012
 #2
avatar+28 
0
Multiply the 5000 by .12 add that to 5000 then divide that by 350 and youll have the # of months itll take you to pay it off interest and all
 Sep 7, 2012

1 Online Users

Top Users

avatar+118652 Melody moderator
avatar+37078 ElectricPavlov
avatar+33653 Alan moderator
avatar+14983 asinus moderator
avatar+3146 admin administrator
avatar+2973 TitaniumRome
avatar+2651 LiIIiam0216
avatar+2489 GingerAle
avatar+1887 tomtom
avatar+1808 NotThatSmart
avatar+1756 bader

Sticky Topics