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OpenStudy (anonymous):
margo's monthly payment on a loan is $1000. To refinance the loan, it will $1500 in fees and $850 each month. after how many months will the new loan save her money?
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OpenStudy (amistre64):
after how many months will this save money eh...
OpenStudy (anonymous):
ya
OpenStudy (amistre64):
the first month cost her a total of 1500+850 = 2350 dollar; which is 1350 more than usual; and she is saving 150 each month;
OpenStudy (amistre64):
1350/150 = 135/15 = 27/3 = 9 9 months
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