Carrie borrows $2600 at an interest rate of 2.5%. The interest paid is $536.25. For how long did she borrow the money?
2 answers:
Here is a loan calculator:
http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx?loanAmount=2600&years=15.417&term.....
If you input 2,600 for amount, term in months (185) , which is about (15.5 YEARS), rate 2.5 % makes the monthly payment 16.95.
16.95 * 185 months = <span> <span> <span> 3,135.75 </span>
2,600 + 536.25 interest = </span></span><span><span><span>3,136.25
</span></span></span>
http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx?loanAmount=2600&years=15.417&term.....
If you input 2,600 for amount, term in months (185) , which is about (15.5 YEARS), rate 2.5 % makes the monthly payment 16.95.
16.95 * 185 months = <span> <span> <span> 3,135.75 </span>
2,600 + 536.25 interest = </span></span><span><span><span>3,136.25
</span></span></span>
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