Lush Gardens Co. bought a new truck for $64,000. It paid $6,400 of this amount as a down payment and financed the balance at 7.50% compounded semi-annually. If the company makes payments of $1,500 at the end of every month, how long will it take to settle the loan? 0 years 0 months Express the answer in years and months, rounded to the next payment period
Lush Gardens Co. bought a new truck for $64,000. It paid $6,400 of this amount as a down payment and financed the balance at 7.50% compounded semi-annually. If the company makes payments of $1,500 at the end of every month, how long will it take to settle the loan? 0 years 0 months Express the answer in years and months, rounded to the next payment period
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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![Lush Gardens Co. bought a new truck for $64,000. It paid $6,400 of this amount as a
down payment and financed the balance at 7.50% compounded semi-annually. If the
company makes payments of $1,500 at the end of every month, how long will it take to
settle the loan?
0 years
o months
Express the answer in years and months, rounded to the next payment period](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F617372ca-88bb-462f-90ea-d246fc85bf0a%2Fa4959705-32a3-42c9-9cc2-19a8d063bef7%2F7e6vdvt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Lush Gardens Co. bought a new truck for $64,000. It paid $6,400 of this amount as a
down payment and financed the balance at 7.50% compounded semi-annually. If the
company makes payments of $1,500 at the end of every month, how long will it take to
settle the loan?
0 years
o months
Express the answer in years and months, rounded to the next payment period
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