Question: Where, o A is the amount (total principal plus interest) requiIIed to repay the loan, 0 P is the amount borrowed, the principal, o r


Where, o A is the amount (total principal plus interest) requiIIed to repay the loan, 0 P is the amount borrowed, the principal, o r is the annual interest rate, quoted as a percent, but used as a decimal o t is the time, in years (must be expressed in years. Example: 6 months would be 1/3 year). Suppose you get a loan of $5,000.00 at an annual interest rate of 4.25%. 1. Use the given information to write the formula for the total amount to be repaid in t years. 2. Make a table of values that shows the payoff amount (A) for 6 months, 1 year, 3 years, and 6 years. Values for t should not be fractions...enter decimals or whole numbers
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