John takes out a loan of $10600 that charges 12% interest compounded monthly. If John makes $170 monthly payments, determine how long it will take him to pay off the loan. Round your answer up.

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asked Sep 22, 2024 287 views

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John takes out a loan of $10600 that charges 12% interest compounded monthly. If John makes $170 monthly payments, determine how long it will take him to pay off the loan. Round your answer up.

Mathematics
college

R P asked

by R P

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2 votes

Answer:

it would be 70months when rounded up.

Explanation:

if not then 69months 7days

Arlen answered Sep 27, 2024

by Arlen

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