Miriam and Dave want to borrow $25,000 to put an addition on their house. They went over their budget, and they can afford to pay $450 a month. If the bank offers them a home improvement loan with an APR of 6.3%, what should the length of the loan be so they can afford the monthly payments?

What will be an ideal response?


The length of the loan will be about 5.5 years.

Mathematics

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A.
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A.

B.

C.

D.

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Mathematics