Question: Finance question. I will leave a like if the answer is correct. How many months will it take you to pay off a loan of

Finance question. I will leave a like if the answer is correct.

How many months will it take you to pay off a loan of $20,000 at 7% APR compounded monthly if you make monthly payments of $500?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

1. Will the effective annual rate ever be equal to the simple (quoted) rate? Explain. 2. A). You are about to buy a home; the purchase price of the property is $260,000 and you are paying 15% of that...

Q:

1. Will the effective annual rate ever be equal to the simple (quoted) rate? Explain. 2. A). You are about to buy a home; the purchase price of the property is $260,000 and you are paying 15% of that...

Q:

i am taking Cooperate finance which is FIN222 can help me to answer.. ? Tutorial 1 Topic 1 Chapter 1 4. What are the main advantages and disadvantages of organising a firm as a corporation? 6. You...

Q:

I need chapters 18, 19, 20, and 21 for the workbook for Personal Finance by Madura!! Please help!!! Personal Finance, Fifth Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK INDEX...

Q:

I need Chapter 2 & 3 finished. Chapter 4 & 5, Chapter 6 & 7, & Chapter 8. Some of this is completed, but it isn't 100% finished. Let me know if you can get to it. Personal Finance, Fifth Edition by...

Q:

Can anyone help me with this or already have the solution this whole Finance Workbook for Madura Personal Finance, Third Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK INDEX Chapter...

Q:

Need the answer in Java Language!!! Programming Project-3 In this project you will write a program that perform certain financial calculations. The financial calculations should be done in methods....

Q:

can you please answer #45 and #56? it is from the same document from before. Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement...

Q:

an investment will $205,000 at the end of next year for an investment of $183,000 at the start of the year. If the market interest rate is 8% over the same period, should the investment be made?...

Q:

please see question 53 about the amount owed in taxes the following year. Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or...

Q:

The Integral Sinxcosx S (sin x _Sinx +105x Sinx + sin x0}x+105x3 equal to 7 dx

Q:

Write a paper in which you need to address the following: Define staffing requirementsdemandin terms of the required staff availability and capabilities. Assess the current and future staff...

Q:

Working as a consultant to a developer, you are conducting a site analysis for a proposed apartment bullding in Providence ( new construction ) . The lot is currently vacant. Why are insurance maps...

Q:

UUUUUU Sales Transactions Journal Instructions Journalize the following merchandise transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use...