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12 January, 21:10

Brianna took out a car loan for $12,250 that has a 0% APR for the first 20 months and will be paid off with monthly payments over a 4 years. For how many months will Brianna be charged interest.

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  1. 12 January, 23:14
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    Brianna doesn’t have any interest, determined by the 0% APR for 20 months. This is 1 year and 8 months. If she plans on making the payments for 4 years then her interest months is 4 years (48 months) minus 20 months, leaving her with 28 months of being charged interest. 28 months is 2 years and 4 months.
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