finding the number of years.

Question

A woman wants to borrow R 800 000 in start-up capital for her business.she is offered an interest rate of 9% per annum, compounded monthly,by all Star finance.She has worked out that she will be able to afford a monthly repayment of R 7500.Dertermine how long it will take her to pay back the loan.Provide your answers in years.

Answer 1

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?? wotz R ??

borro munee...800,000R at 9%/yeer, pae 7,500 R/month

Her pae it off in 216 months=18 yeers

total pae=1,615,472.49