a)
P(t) = 10,200 - 200 t
P(t) = - 200 t + 10,200
b)
Replace P(t) = 5,000 in this equation
5,000 = - 200 t + 10,200
t = 26 months
A college student receives an interest-free loan of $10,200 from a relative. The student will repay $200 per month until the loan is paid off.
a) Express the amount P (in dollars) remaining to be paid in terms of time t (in months). (Give your answer in slope-intercept form.)
b) After how many months will the student owe $5000?
1 answer
1 answer