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20 April, 16:14

Amanda just took out a loan for $950 at a 7.2% APR, compounded monthly, to

buy a new set of tires for her car, and she has agreed to make monthly

payments of $38.50 to pay off the loan. If she changes her monthly payment

to $93.00, how much faster would she be able to pay off the loan?

A. 27 months faster

B. 38 months faster

C. 16 months faster

D. 11 months faster

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Answers (2)
  1. 20 April, 16:27
    0
    16 months faster
  2. 20 April, 16:33
    0
    Answer:16 months

    Step-by-step explanation:

    Apex
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