SOLUTION: I need to write an exponential equation showing 5% and 9% interest on a $15,000 car loan over 48 months. Thank You

Question 453089: I need to write an exponential equation showing 5% and 9% interest on a $15,000 car loan over 48 months. Thank You
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
I need to write an exponential equation showing 5% and 9% interest on a $15,000 car loan over 48 months.
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5% interest:
I = Prt
I = 15000*0.05*4 = 3000
=======================
9% interest:
I = Prt
I = 15000*0.09*4 = 5400
==============================
Cheers,
Stan H.
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