You just received a loan offer from Mako Loans. The company is offering you $8,000 at 6.25 percent interest. The monthly payment is only $200. If you accept this offer, how long will it take you to pay off the loan

3.75 years.

Explanation:

So, we are given the following data or parameters in the question above as:

=> The amount the company is offering = $8,000 at 6.25 percent interest.

=> ". The monthly payment is only $200. "

Therefore, rate = rate per period = 0.00520833333333333 + from 0.0625/12).

The Number of payment period = N = 45.0.

N(6.25 %/12,200, - 8000.

45/12 = 3.75 years.

Hence, it will take a period of 3.75 years for me to pay up the loan.

c

explanation:

15 pounds of apples and 6 cups of flour