<span>If you have a $460,000 loan at 6% interest for 25 years; payments should be $2,963.79, not $2962.40. At $2,963.79, $2,300 would be interest, $663.79 would be principal. After that first payment your balance would be $459,336.21.
Hope I helped!!</span>
Answer:
It will take Carrie 8 months to pay off the loan
Step-by-step explanation:
Step 1: Determine the expression for total amount to be paid
T=m×n
where;
T=total amount to be payed
m=total payments per month
n=number of payments to be made
In our case;
T= $960
m= $120
n=unknown
replacing;
960=120×n
120 n=960
n=960/120
n=8 months
It will take Carrie 8 months to pay off the loan
<em>Look</em><em> </em><em>at</em><em> </em><em>the</em><em> </em><em>attached</em><em> </em><em>picture</em><em>⤴</em>
<em>Hope</em><em> </em><em>this</em><em> </em><em>will</em><em> </em><em>help</em><em> </em><em>u</em><em>.</em><em>.</em><em>.</em>