Mathematics, 02.12.2021 16:30 billy1123
5. A bank offers a $25,000 loan at an interest rate of 7.7% that can be
paid back over 2 to 10 years.
a. Write the monthly payment formula for this loan situation. Lett
represent the number of years from 2 to 10 inclusive.
b. Write the total interest formula for this loan situation. Let t repre
sent the number of years from 2 to 10 inclusive.
c. Construct a graph. Let the independent variable represent years
and the dependent variable represent the interest paid.
d. Use your graph to estimate the interest for a 6-year loan.
2
Answers: 2
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5. A bank offers a $25,000 loan at an interest rate of 7.7% that can be
paid back over 2 to 10 yea...
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