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MMLU-Pro / 8429 / A recent college graduate borrows 100,000 at an interest rate of 9% to…

Problem

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question

A recent college graduate borrows $100,000\$ 100,000 at an interest rate of 9%9 \% to purchase a condominium. Anticipating steady salary increases, the buyer expects to make payments at a monthly rate of 800(1+t/120)800(1+t / 120), where tt is the number of months since the loan was made. Assuming that this payment schedule can be maintained, when will the loan be fully paid?
Plain-text mathematical notation (without MathML)
A recent college graduate borrows $100,000 at an interest rate of 9% to purchase a condominium. Anticipating steady salary increases, the buyer expects to make payments at a monthly rate of 800(1+t/120), where t is the number of months since the loan was made.
Assuming that this payment schedule can be maintained, when will the loan be fully paid?
Original LaTeX notation
A recent college graduate borrows $\$ 100,000$ at an interest rate of $9 \%$ to purchase a condominium. Anticipating steady salary increases, the buyer expects to make payments at a monthly rate of $800(1+t / 120)$, where $t$ is the number of months since the loan was made.
Assuming that this payment schedule can be maintained, when will the loan be fully paid?

category

math

options

  1. 160 months
  2. 145.5 months
  3. 180 months
  4. 150 months
  5. 120 months
  6. 190 months
  7. 135.36 months
  8. 200 months
  9. 125 months
  10. 110 months

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