1. Lina wants to remodel her kitchen. Her contractor has quoted her $2,500 for the project. Lina will take out a home improvement loan from her bank. The loan has a two percent monthly, simple interest rate. Her minimum payments are $250. How long will it take for her to pay off the loan. 2500= If Lina wants to pay the loan off-in six months, what should her payments be? Round to the nearest dollar.

1. Lina wants to remodel her kitchen. Her contractor has quoted her $2,500 for the project. Lina will take out a home improvement loan from her bank. The loan has a two percent monthly, simple interest rate. Her minimum payments are $250. How long will it take for her to pay off the loan. 2500= If Lina wants to pay the loan off-in six months, what should her payments be? Round to the nearest dollar.

Name: I’m confused Cost of BorrowingDirections:Using the information from th
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: I’m confused Cost of BorrowingDirections:Using the information from the scenarios below, solve the equations. Use thefollowing formulas and show your work.Total Accrued Amount = Principle(1 + Interest Rate * Time period)Interest = Principle * Interes