Question: ( 4 ) A young couple that recently had their third child decide to purchase a new van. They make a down payment of $

(4) A young couple that recently had their third child decide to purchase a new van. They make a down payment of $10,000 and finance the remaining $22,000 to purchase a 2010 Toyota Sienna. They arrange financing with their local financial institution and arrange an annual interest rate of 5.2% compounded monthly. They decide to make monthly payments of $400. How long will it take for them to pay off the van?
(4) A young couple that recently had their third child decide

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