The formula m = 12,000 + 12,000rt 12t gives Keri's monthly loan payment, where r is the annual interest rate and t is the length of the loan, in years. What is Keri's monthly loan payment if she gets a 5% loan for 4 years? $ per month
Accepted Solution
A:
The answer of per month for 4 years is 300. The answer of per month for 5 years is 50 less per month