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30 August, 02:00

Eugene took out a loan for $1075 at a 12.6% APR, compounded monthly, to

buy a treadmill. If he will make monthly payments of $87.25 to pay off the

loan, how many total payments will he have to make?

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Answers (2)
  1. 30 August, 02:30
    0
    approximately 12 payments.

    Step-by-step explanation:

    you can pay off the loan in a year by multiplying 87.25 and 12. this will give you 1047, which is about 28$ off. then after that year, you can pay off the $28 whenever you finish with the 87.25
  2. 30 August, 03:55
    0
    Answer: 14

    Step-by-step explanation: Apex
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