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. After completing her four-year college degree, Lynn has a $20,000 loan. She earns the average monthly income for her level of education. If her living expenses are $1,700 per month, in how many months could Lynn pay off her loan?

After Completing Her Fouryear College Degree Lynn Has A 20000 Loan She Earns The Average Monthly Income For Her Level Of Education If Her Living Expenses Are 1 class=

Sagot :

We have the following:

We have a four-year college degree that has a value of $ 2700 and its expenses are $ 1700, we would have

[tex]2700-1700=1000[/tex]

Now, we know that the total value is $ 20,000 and the monthly value is $ 1,000, as we calculated previously, to know the number of months we divide these values like this:

[tex]=\frac{20000}{1000}=20[/tex]

Therefore, a total of 20 months are required.

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