Question

How long will it take to pay off a loan of $48,000

at an annual rate of

9 percent compounded monthly if you make monthly payments of

$450?

Use five decimal places for the monthly percentage rate in your calculations.

The number of years it takes to pay off the loan is

y

Answer #1

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How long will it take to pay off a loan of $55,000 at an annual
rate of 9 percent compounded monthly if you make monthly payments
of $800? Use five decimal places for the monthly percentage rate in
your calculations.
The number of years it takes to pay off the loan is __
years?
Please show your work.

How long will it take to pay off a loan of $50,000 at an
annual rate of 11 percent compounded monthly if you make monthly
payments of $550? Use five decimal places for the monthly
percentage rate in your calculations.
The number of years it takes to pay off the loan is ____
years.

(Annuity number of periods) How long will it take to pay off a
loan of $47,000 at an annual rate of 9 percent compounded monthly
if you make monthly payments of $500? Use five decimal places for
the monthly percentage rate in your calculations. The number of
years it takes to pay off the loan is _ years. (Round to one
decimal place.)

How long will it take to pay off a loan of $55,000 at an annual
rate of 9 percent compounded monthly if you make monthly payments
of $650 ? Use five decimal places for the monthly percentage rate
in your calculations.
(Round to one decimal place.)

(Annuity number of periods) How long will it take to pay off a
loan of $51 comma 000 at an annual rate of 9 percent compounded
monthly if you make monthly payments of $700? Use five decimal
places for the monthly percentage rate in your calculations. The
number of years it takes to pay off the loan is nothing
years. (Round to one decimal place.)

How long will it take to pay off a loan of
$49 comma 00049,000
at an annual rate of
1111
percent compounded monthly if you make monthly payments of
$700700?
Use five decimal places for the monthly percentage rate in your
calculations.
The number of years it takes to pay off the loan is
nothing
years. (Round to one decimal place.)

How long will it take to pay off a loan of $52,000 at an annual
rate of 8% compounded monthly if you make monthly payments of
$750? Use five decimal places for the monthly percentage rate in
your calculations.

(A) Karev has taken out a $200,000 loan with an annual rate of
11percent compounded monthly to pay off hospital bills from his
wife Izzy's illness. If the most he can afford to pay is $3,500
per month, how long will it take to pay off the loan? How long
will it take for him to pay off the loan if he can pay $4,000 per
month? Use five decimal places for the monthly percentage rate in
your calculations.
(B)...

(Annuity number of periods) Alex Karev has taken out a
210,000$ loan with an annual rate of 9 percent compounded monthly
to pay off hospital bills from his wife Izzy's illness. If the
most Alex can afford to pay is $2,500 per month, how long will it
take to pay off the loan? How long will it take for him to pay off
the loan if he can pay $3,000 per month? Use five decimal places
for the monthly percentage...

How long (in years) will it take Michael Garbin to pay off a
$5000 loan with monthly payments of $156.49 if the add-on
interest rate is 5.1%?
Michael Garbin would take ___ years to pay off a $5000 loan
amount.

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