Steps for

If$.$ a person is going to pay $$500$ per month every month for $5$ years, what do you know about the size of their initial car loan $($assuming the

interest rate is positive$)?$

Multiple Choice

There is not enough information to make a judgment regarding the initial loan amount.

The loan amount was exactly $$30,000.$

The loan amount was more than $$30,000.$

The loan amount was less than $$30\mathrm{.}000.$