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( Annuity number of periods ) Alex Karev has taken out a $ 1 8 0 , 0 0 0 loan with an annual rate
Annuity number of periods Alex Karev has taken out a $ loan with an annual rate of percent compounded monthly to pay off hospital bills from his wife Izzy's illness. If the most Alex can afford to pay is $ per month, how long will it take to pay off the loan? How long will it take for him to pay off the loan if he can pay $ per month? Use five decimal places for the monthly percentage rate in your calculations.
a If Alex can pay $ per month, the number of years it takes for him to pay off the loan is years. Round to one decimal place.
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