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25 March, 01:57

If nancy pays her bank $465.23 a month for 48 months, how much will she have paid on her installment loan?

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  1. 25 March, 03:22
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    The solution would be like this for this specific problem:

    Given:

    Payment/month = $465.23

    Months to pay = 48 months

    So the computation will go like this:

    $465.23 per month * 48 months = $22,331.04

    Nancy will have paid $22,331.04 on her installment loan.
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