Question

a person has a loan balance of $2996.28 on the new 23-inch rims and tires he bought for his suv. if his payments are $103.32 per month, how many months will it take to pay off the balance?
to pay off the balance, it will take \\(\square\\) months

Explanation:

Step1: Identify the formula

To find the number of months, we use the formula: Number of months = Total balance / Monthly payment.

Step2: Substitute the values

Total balance is $2996.28 and monthly payment is $103.32. So we calculate $\frac{2996.28}{103.32}$.

Step3: Perform the division

$\frac{2996.28}{103.32} = 29$.

Answer:

29