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Bernadette took out a loan for $1250 at a 10.8% APR, compounded monthly, to buy a refrigerator. If she will make monthly payments of $85.50 to pay off the loan, which of these expressions could be used
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Bernadette took out a loan for $1250 at a 10.8% APR, compounded monthly, to buy a refrigerator. If she will make monthly payments of $85.50 to pay off the loan, which of these expressions could be used to calculate the number of payments she will have to make?

User Hackerinheels
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1 Answer

6 votes

Answer:

log(85.5/85.5-(1250)(0.009))/log(1+0.009)

Step-by-step explanation:

exactly how it is. I got it correct

User Wolfyuk
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