Jacob took out a loan for $950 at a 13.2% APR, compounded monthly, to buy a dishwasher. If he will make monthly payments of $62.50 to pay off the loan,
which of these expressions could be used to calculate the number of
payments he will have to make?
log
A.
62.5
62.5+ (950)(0.011)
log (1 -0.011)
log
B.
62.5
62.5+ (950)(0.011)
log (1 +0.011)
log
C.
62.5
62.5 - (950)(0.011)
Tog (1 +0.011)
log
D.
62.5
62.5 - (950)(0.011)
log (1 -0.011)