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Sagot :
If the monthly payments mad s $200, the number of months it would take to pay off the loan is 46.54 months.
How many months would it take to pay off the loan?
The first step is to determine the total value of the loan.
Total value of the loan = (1 + interest) x amount of the loan
Amount of the loan = 9000 - 500 = $8,500
Total value of the loan = (1.095) x $8500 = $9307.50
Number of months it would take to pay off the loan = total value of the loan / monthly payments
$9307.50 / 200 = 46.54 months
To learn more about loans, please check https://brainly.com/question/25811386
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