For a certain consumer loan, the balance you still owe the bank after t monthly payments is given by
.
A. Express in functional notation the amount you owe the bank after 1 year of payments, and then calculate that value.B. How many payments do you need to make to reduce the balance owed to $10,559.36?C. When is the balance a maximum, and what is that maximum value?
What will be an ideal response?
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B. 16.00 payments
?
C. The maximum balance of $17,129 occurs at , before any payments are made.
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What will be an ideal response?