Question: The formula for the total dollars needed to repay the loan, with interest, is found using the formula A=P+Prt where A is the amount (total
The formula for the total dollars needed to repay the loan, with interest, is found using the formula A=P+Prt where A is the amount (total principal plus interest) required to repay the loan. P is the amount borrowed, the principal. r is the annual interest rate, quoted as a percent, but used as a decimal in the formula. t is the time, in years, taken to repay the loan (six months would be frac(1,2) year). Suppose you get a loan of $9,000 at an annual interest rate of 3.5%. Complete the table of values below that shows the payoff amount after certain amounts of time. Question 5 Please fill in the blank in the following table: t (years) A ($) 0 4 months 6 months ? 1 year 3 years 6 years I don't know
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