2 Answers

Atul Mavani · Answer 1 · 2016-01-25T00:20:19+0000

Answer:

30 monthly payments.

Explanation:

We are asked to find the number of monthly payments made for a 2 1/2 year loan.

We know that one year equals 12 months, so 2 years would be 2 times 12 months, that is:

$2* 12\text{ months}=24\text{ months}$

The number of months in half year would be half of 12 that is
(12)/(2)=6 months.

$\text{Months in 2 1/2 year}=24+6$

$\text{Months in 2 1/2 year}=30$

Since 2 1/2 year equals 30 months, therefore, 30 monthly payments must be made for a 2 1/2 year loan.

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