Kelly and friends buy a house after graduating from college and borrow $200,000 from the bank to

Question:

Kelly and friends buy a house after graduating from college and borrow $200,000 from the bank to pay for it. Suppose that the bank charges 12% annual interest on the outstanding principle and that Kelly's group plans to make monthly payments of d = $2,500 to the bank. Call A(t) the amount of money the group still owes the bank.
(a) What is the initial value problem that describes A (t)?
(b) Solve the IVP in part (a).
(c) How long will it take Kelly and friends to pay off the loan?