17
QuizMultiple Choice

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Question 17 • 2025-2026 GSP Mathematical Reasoning for Decision Making

Tim and Sally are taking out a personal loan to pay for their wedding expenses. The loan is for $9,000 and comes with an interest rate of 9.5% compounded monthly. The couple wants to pay the loan off as quickly as possible, keeping the monthly payments below $250. The lender offers repayment plans in 12 month increments. How long of a loan should they request?a.24 monthsb.36 monthsc.48 monthsd.60 months

Answer
A
A
B
B
C
C
D
D
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