(a)
Albert wants to borrow $32,500 to purchase a car. After looking at his monthly
budget, he...
Mathematics, 31.03.2021 20:10 brittanysanders
(a)
Albert wants to borrow $32,500 to purchase a car. After looking at his monthly
budget, he realizes that all he can afford to pay per month is $475. the bank is
offering him a 4.7% loan.
What would need to be the length of the loan in order to stay within budget.
A about 6.5 years
B
about 6 years
© about 5 years
D about 4.5 years
(b)
What if he realized he could put forth $50 more per month. how would the length of
his loan change?
Answers: 2
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