Question

The formula m =

12,000 + 12,000rt
gives Keri's
121
monthly loan payment, where r is the annual
interest rate and t is the length of the loan, in
years.
Keri decides that she can afford, at most, a $275
monthly car payment. Give an example of an
interest rate greater than 0% and a loan length that
would result in a car payment Keri could afford.
Provide support for your answer.

Answer 1

example of an interest rate and a loan length that costs under $275/month (example: 4-year loan at 2% interest)

monthly payment for the loan you described (example: 4-year loan at 2% interest is $270/month)

statement that the monthly payment for the loan you described is less than or equal to $275 (example: $270/month payment is less than $275)

Explanation:

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