Question
1. On October 5, Tristan Sandino borrowed $3,050 to buy an English bulldog. The loan carried a rate of 4% and Tristan agreed to pay
1. On October 5, Tristan Sandino borrowed $3,050 to buy an English bulldog. The loan carried a rate of 4% and Tristan agreed to pay a maximum of $105 in interest. What is the maturity date of this loan? Assume a 365-day year. Express your answer as month and day. (example: June 8)
2. Todd Gunderson bought a motorcycle from his neighbor for $9,000. He paid $400 down and financed the remainder at a 4.5% interest rate on the balance. If he makes monthly payments of $200, how many months will it take Todd to pay off the motorcycle? Express your answer as a whole number of months.
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