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Sagot :
The Solution:
Given:
The total months needed to pay off the balance = 53 months
When an additional $40 is paid every month, the number of months needed to pay off the balance is reduced to 21 months.
We are asked to find the percentage of the time that will be saved by paying the extra $40 per month.
So, the required percentage is
[tex]\begin{gathered} \frac{\text{ time saved}}{\text{ total time}}\times100 \\ \\ \frac{53-21}{53}\times100=\frac{32}{53}\times100=60.377\approx60\% \end{gathered}[/tex]Therefore, the correct answer is 60% [option 3]
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