Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Joseph buys a Hummer for $78,000, financing it with a 10-year 3.9% APR loan paid monthly. He decides to pay an extra $210 per month
Joseph buys a Hummer for $78,000, financing it with a 10-year 3.9% APR loan paid monthly. He decides to pay an extra $210 per month in addition to his monthly payments. Approximately how long will he take to pay off the loan under these conditions?
Group of answer choices 99.85 months 90.52 months 93.81 months 102.50 months
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started