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28 December, 14:51

Use the given formula to solve the following problem: When the amount financed is $15,480, the monthly payment is $621.33, and the monthly interest rate is 0.00583, how long do you have to pay? n = log of the quantity P divided by the quantity P minus eh R, divided by the log of the quantity 1 plus r

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  1. 28 December, 18:05
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    15480=621.33[ (1 - (1+0.00583) ^ (-X)) / 0.00583]

    Solve for x

    X=26.9=27
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