Your Monthly Payment, C(s, T), on a Car Loan Depends

question 29

Multiple Choice

Your monthly payment, C(s, t) , on a car loan depends on the amount, s, of the loan (in thousands of dollars) , and the time, t, required to pay it back (in months) .What is the meaning of C(7, 48) = 250?

• A)If you borrow $7,000 from the bank for 48 months (4 year loan), your monthly car loan payment is $250.
• B)If you borrow $4,000 from the bank for 48 months (7 year loan), your monthly car loan payment is $250.
• C)If you borrow $250 from the bank for 48 months (4 year loan), your monthly car loan payment is $7.
• D)If you borrow $7 from the bank for 48 months (4 year loan), your monthly car loan payment is $250.

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