A car loan of $31,633.83 is to be repaid with end-of-month payments of $585.81. If interest is 4% compounded monthly, ho
Posted: Sun May 29, 2022 6:30 pm
A car loan of $31,633.83 is to be repaid with end-of-month payments of $585.81. If interest is 4% compounded monthly, how long is the term of the loan? State your answer in years and months (from 0 to 11 months). It will require year(s) and month(s) to repay the loan.