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Home Improvement Loan. The Van Reken family borrows $7824 to build a detached garage next to their home. The loan is to be paid off in equal monthly payments of $163 (excluding …

Home Improvement Loan. The Van Reken family borrows $7824 to build a detached garage next to their home. The loan is to be paid off in equal monthly payments of $163 (excluding …
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1 vote
Home Improvement Loan. The Van Reken family

borrows $7824 to build a detached garage next
to their home. The loan is to be paid off in equal
monthly payments of $163 (excluding interest). How
many months will it take to pay off the loan?

asked
User Chandra Shekhar
by
7.4k points

1 Answer

1 vote

Answer:

The answer is.... it will take them 48 months to pay off the home improvement loan.

answered
User Cristian Marian
by
8.1k points
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