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les uses pencils every 5 weeks to do his school work and homework. if les were to plot these numbers on a graph with the pencils
2 answers:
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Answer:
8.82 years.
Step-by-step explanation:
Since, the monthly payment formula is,
Where, PV is the present value of the loan,
r is the rate per month,
n is number of months,
Here,
PV = $ 25,000,
Annual rate = 5.2 % = 0.052 ⇒ Monthly rate, r =
( 1 year = 12 months )
P = $ 295,
By substituting the values,
By the graphing calculator,
We get,
Hence, the time ( in years ) =