SOLUTION: A student purchased a car and received an interest free loan of $12,000 from his parents. The student agrees to repay the loan by making a $300 monthly payments until the loan is r

Question 669687: A student purchased a car and received an interest free loan of $12,000 from his parents. The student agrees to repay the loan by making a $300 monthly payments until the loan is repaid. Let x be the number of payments that the student made and y (in dollars) the amount of money the student still owed. I am stuck on this question someone please help! I need help setting the problem up and solving =/
Found 2 solutions by ReadingBoosters, MathTherapy:
Answer by ReadingBoosters(3246) (Show Source): You can put this solution on YOUR website!
owes y amount from original 12000 minus x payments of

.....................
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Answer by MathTherapy(10555) (Show Source): You can put this solution on YOUR website!

A student purchased a car and received an interest free loan of $12,000 from his parents. The student agrees to repay the loan by making a $300 monthly payments until the loan is repaid. Let x be the number of payments that the student made and y (in dollars) the amount of money the student still owed. I am stuck on this question someone please help! I need help setting the problem up and solving =/

, or , with y(x) being the balance, depending on the amount of payments (x) made

You can use this equation to determine, at any juncture, the amount still owing.

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