SOLUTION: sonja needs to borrow $2,251 to pay for her college classes. Sallie Mae is offering her a 4.5% simple interest loan with an interest charge of $405.18 over the life of the loan. Ho
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Question 654843: sonja needs to borrow $2,251 to pay for her college classes. Sallie Mae is offering her a 4.5% simple interest loan with an interest charge of $405.18 over the life of the loan. How many years is Sallie Mae giving her to pay back the loan with interest? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = the number of years to pay back the loan = 1 years interest
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Sallie Mae is giving her 4 years to repay the loan with interest
