Question: 2. [-/2 Points] DETAILS MY NOTES You borrow $A at an interest rate of % (per month) and pay it off over t months by

2. [-/2 Points] DETAILS MY NOTES You borrow $A at an

2. [-/2 Points] DETAILS MY NOTES You borrow $A at an interest rate of % (per month) and pay it off over t months by making monthly payments of P = g(A, r, t) dollars. Suppose you plan to borrow $ 8000 with a monthly interest rate of 1 % for 12 months. In financial terms, what do the following statements tell you? (a) gA (8000, 1, 12) = 0.049 Your monthly payment would increase by approximately $ if you borrowed $8010 instead of $8000. (b) gr (8000, 1, 12) = 44.53 Your monthly payment would increase by approximately $ if the interest rate was 2% instead of 1% per month

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