Question

Quiana took out a loan to pay for a new car. Initially, she owed the lender $15,234.68. She has repaid $247.43 of the loan each month for the past 5 months. What is the net change to the loan from Quiana’s perspective over the past 5 months?

Quiana made five equal monthly payments from her bank account. Which rational number shows something being removed five times?

Answer 1

Answer: $1237.15

Explanation:

Initial loan amount = $15,234.68

Monthly payment =$247.43

Payment's made in last five(5) months = $247.43 × 5

= $1237.15

Current balance

= $15,234.68 - $1237.15

= $13,997.53

Net change

= Initial loan amount - current balance

= $15,234.68 - $13,997.53

= $1237.15

Explanation:

Answer 2

247.43 times 5 =1237.15

15,236.86-1237.15=13999.71

13999.71 divide 5=2799.942

Explanation:

The rational number is 5 months