Question
IF THE LOAN IS FOR $18000 AND THE INTEREST RATE IS 6.5%. iF THE INTEREST PAID IS $4680.0 HOW MANY MONTHS IS THE LOAN FOR?
Answers
Ms. Sue
I = PRT
4,680 = 18,000 * 0.065T
4680 = 1170T
4 = T
That's 4 years = 48 months.
4,680 = 18,000 * 0.065T
4680 = 1170T
4 = T
That's 4 years = 48 months.