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elixir [45]
3 years ago
8

One of your customers has just made a purchase in the amount of $23,200. You have agreed to payments of $445 per month and will

charge a monthly interest rate of 1.26 percent. How many months will it take for the account to be paid off?
Business
1 answer:
Alja [10]3 years ago
3 0

Answer:

85.43 months

Explanation:

Purchase = $23,200

Payment per month = $445

Interest rate = 1.26%

Therefore the solution is:

$23,200 = $445[(1 − 1/1.0126^t) / .0126]

t = 85.43 months

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anastassius [24]

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brainly.com/question/1113933

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4 0
1 year ago
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