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

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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) About Me  (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
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9% interest:
I = Prt
I = 15000*0.09*4 = 5400
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Cheers,
Stan H.