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Use the given formula to solve the following problem: When the amount financed is $15,480, the monthly payment is $621.33, and the monthly interest rate is 0.00583, how long do you have to pay? n = log of the quantity P divided by the quantity P minus eh R, divided by the log of the quantity 1 plus r

User Trein
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1 Answer

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15480=621.33[(1-(1+0.00583)^(-X))/0.00583]
Solve for x
X=26.9=27
User Pat McG
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