SOLUTION: Tom took a loan out for $5000 with an 20% interest rate, his payments was $250 a month. After six months he paid off all his debts he owed with the loan money, he then was offered
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Tom took a loan out for $5000 with an 20% interest rate, his payments was $250 a month. After six months he paid off all his debts he owed with the loan money, he then was offered
Log On
Question 1039283: Tom took a loan out for $5000 with an 20% interest rate, his payments was $250 a month. After six months he paid off all his debts he owed with the loan money, he then was offered a extra $500 for making his payments on time. After paying off the loan, Tom decided to never take out a loan again..
1.How much money did Tom make over the years.
2.How much was the loan.
3.How much money did Tom have left from the loan.
4.How much did he take out on the second loan.
5.How much money did Tom have left to pay before he was offered more money.
6.How many years did it take Tom to pay off the loan. Answer by solver91311(24713) (Show Source):
One question per post. Ordinarily, I would just pick one of the questions and answer it, but nothing in this post makes any sense. There is no information on what his original debt was, you only mention one loan but then ask about a second loan, etc. Your whole post is nonsense and a waste of our time.
John
My calculator said it, I believe it, that settles it
