Cynthia wants to take out a $8500 loan with a 4.75% apr. she can afford to pay $245 per month for loan payments. how long should he borrow the money so that she can afford the monthly payment?

She should borrow the money for 3.1161... years so that she can afford the monthly payment.

Step-by-step explanation:

Monthly payment formula is:      , where

M = Monthly payment amount, P = Loan amount, r = rate of interest per month and n = total number of months.

Given that, Cynthia wants to take out a $8500 loan with a 4.75% APR and she can afford to pay $245 per month.

That means,   and

Plugging these values into the above formula, we will get........

So,

That means, she should borrow the money for 3.1161... years so that she can afford the monthly payment.

3

step-by-step explanation:

in standard form:

a= dictionaries

b= maps

you have to buy 3 dictionaries, so put a 3 next to the a (dictionaries) so that you can multiply them by each other.

a3+b= 60 (the amount of money you have)

we already know the cost of a=15 so replace a with $15

($15 x 3)+b=60

multiply 15 and 3 to get $45 and replace it with $45

45+b=60

and then replace b with 15 to get the total:

45+15=60

that means you have $15 left after buying 3 dictionaries.

15 divided by the cost of a map ($5) equals 3.

so you can buy 3 maps.

sorry if it was confusing!