Abigail's calculations show that the total interest owed to Sanjeev on her 3, 700 loan is 177.60. If she paid simple interest at the rate of 0.4% per month, for how long did Abigail borrow the money? Note: Please make sure your final answer(s) are rounded up to the next whole month.

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Abigail's calculations show that the total interest owed to Sanjeev on her 3, 700 loan is 177.60. If she paid simple interest at the rate of 0.4% per month, for how long did Abigail borrow the money? Note: Please make sure your final answer(s) are rounded up to the next whole month.

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