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What is the length of a $600 title loan repaid with a $1,275.50 lump sum? Use the typical interest rate. Link(s): http://www.pewtrusts.org/~/media/assets/2015/03/autotitleloansreport.pdf (Links to an

What is the length of a $600 title loan repaid with a $1,275.50 lump sum? Use the typical interest rate. Link(s): http://www.pewtrusts.org/~/media/assets/2015/03/autotitleloansreport.pdf (Links to an external site.) (Refer to "How auto title lending works")

I think I have to use the formula

T= interest/ principal x rate

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