How many years does Frederick have to pay back the loan?

User Generated

nfvev2

Mathematics

Description

Frederick needs to borrow $3000 for down payment on a new car. His uncle decided to loan him the money as a 4.3% loan. Frederick does not want to pay more than $516 in interest. How many years does Frederick have to pay back the loan?

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer


Anonymous
Super useful! Studypool never disappoints.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags