Five years after buying their first home, Scott and Mia's mortgage came up for renewal. Interest rates have dropped from 9.5% per year to 6.25% per year. They owe $186 000. Scott and Mia decide to make weekly payments of $400. Determine the number of years it will take to pay the mortgage in full.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Five years after buying their first home, Scott and Mia's mortgage came up for renewal. Interest rates have
dropped from 9.5% per year to 6.25% per year. They owe $186 000. Scott and Mia decide to make weekly
payments of $400. Determine the number of years it will take to pay the mortgage in full.

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