elijahj529 elijahj529

14-05-2021
Mathematics

contestada

Jennifer wants to borrow $ 20, 000 . Her bank offers a 7.1% interest rate. She can afford $500 a month for loan payments. What should be the length of her loan to the nearest tenth of a year

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clarch19 clarch19

14-05-2021

Answer:

4.2 years

Step-by-step explanation:

20000(.071)t ≤ 500(12)

1420t ≤ 6000

t = 4.2

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