Question

. 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?

Answer 1

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

$2700-1700=1000$

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:

$=\frac{20000}{1000}=20$

Therefore, a total of 20 months are required.