Finance Question?

If you get 80,000 and you have to pay 4200$ every month. How many months would it take you to pay back the loan? No interest.
***sorry, with 10% interest on loan

Best Answer:

michael: n = LN (Pmt / (Pmt – PV x i)) / LN(1 + i)

assuming monthly compounding of interest

n=LN(4200/(4200-80000*10%/12))/LN(1+10%…

n = 20.83 months

Other answer:

michael:
800/42
DEBS:
Seriously? Just divide.
Trivial One:
Divide the total owed by the amount paid every month to get the number of months of payments. Most nine-year-olds can do this. It's not a finance question, it's a third or fourth grade math problem.

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