Cindy would like to buy her daughter a new computer as a graduation present. The computer will cost around $1,415. After looking at her monthly expenses, she determines that she can only afford to pay $45 per month. The bank is currently offering a 7.8% loan . What is the length of the loan needed so that Cindy only needs to pay $45 per month using the following formula?

T=ln(Mp)(ln(Mpr12))12ln(1+r12)T=ln(Mp)(ln(Mpr12))12ln(1+r12)

Round your answer to the nearest tenth of a year.

t ans 1 pts Question 8 Cindy would like to buy her daughter a new computer as a graduation present. The computer will cost around $1.415 After looking at her monthly expenses, she determines that she can only afford to pay $45 per month. The bank is currently offering a 7.8% loan . What is the length of the loan needed so that Cindy only needs to pay $45 per month using the following formula: TE In() (ln( e ) 12in(1 ) Round your answer to the nearest tenth of a year Next Previous Submit Quiz No new data to save Last checked at 10:51pm Questions Question 1 Question 2 Question 3