Suppose Fred borrowed $5,540 for 20 months and Joanna borrowed $4,969. Fred's loan used the simple discount model with a

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answerhappygod
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Suppose Fred borrowed $5,540 for 20 months and Joanna borrowed $4,969. Fred's loan used the simple discount model with a

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Suppose Fred borrowed $5,540 for 20 months and Joanna borrowed$4,969.
Fred's loan used the simple discount model with an annual rateof 7.3% while Joanne's loan used the simple interest model with anannual rate of 2.9%.
If their maturity values were the same, how many months wasJoanna's loan for?
Round your answer to the nearest month.
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