Question

Carrie borrows $960 interest-free to pay for a car repair. She will repay $120 monthly until the loan is paid off. How many months will it take Carrie to pay off the loan? Explain.

Answer 1

120×8=960
Carrie has to pay 120$ to the bank for 8 months becasue 120×8=960 and that's how much her loan was.

Answer 2

8 months.

Explanation:

We have been given that Carrie borrows $960 interest-free to pay for a car repair. She will repay $120 monthly until the loan is paid off.

To find the number of months, it will take to pay off the loan, we will divide total amount of loan by monthly payment.

`\text{Months to pay off the loan}=(960)/(120)`

`\text{Months to pay off the loan}=8`

Therefore, it will take Carrie 8 months to pay off the loan.