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 =/


{{{highlight_green(y(x) = 12000 - 300x)}}}, or {{{highlight_green(y(x) = - 300x + 12000)}}}, 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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