Jackson took out a 4-year loan for $5500 at a furniture store to be paid back with monthly payments at a 13.1% APR. If the loan offers no payments for the first 20 months, how many payments will Jackson

Jackson took out a 4-year loan for $5500 at a furniture store to be paid back

with monthly payments at a 13.1% APR. If the loan offers no payments for the
first 20 months, how many payments will Jackson be required to make?
A. 68
B. 20
C. 48
D. 28

2 Answers

Jackson took out a 4-year loan for $5500 at a furniture store to be paid back with monthly payments at a 13.1% APR. If the loan offers no payments for the first 20 months, how m…

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