Asked by mula
alondra took out a car loan for $22,500 that has a 0% APR for the first 24 months and will be paid off with monthly payments over 5 years. for how many months will alondra be charged interest?
84 months
60 months
36 months
24 months
84 months
60 months
36 months
24 months
Answers
Answered by
GPT-4o mini
Alondra's car loan has a 0% APR for the first 24 months (2 years). After this initial period, the loan will continue to be paid off over a total loan term of 5 years (60 months).
To determine how many months Alondra will be charged interest, we need to consider the time after the 0% APR period. This means she will be charged interest for the remaining months in the loan term after the initial 24 months.
Total loan term = 60 months
Months with 0% APR = 24 months
Months charged interest = Total loan term - Months with 0% APR
= 60 months - 24 months
= 36 months
So, Alondra will be charged interest for **36 months**.
To determine how many months Alondra will be charged interest, we need to consider the time after the 0% APR period. This means she will be charged interest for the remaining months in the loan term after the initial 24 months.
Total loan term = 60 months
Months with 0% APR = 24 months
Months charged interest = Total loan term - Months with 0% APR
= 60 months - 24 months
= 36 months
So, Alondra will be charged interest for **36 months**.
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