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

question 74

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(6, 24) = 200?

• A)If you borrow $6,000 from the bank for 24 months (2 year loan), your monthly car loan payment is $200.
• B)If you borrow $2,000 from the bank for 24 months (6 year loan), your monthly car loan payment is $200.
• C)If you borrow $200 from the bank for 24 months (2 year loan), your monthly car loan payment is $6.
• D)If you borrow $6 from the bank for 24 months (2 year loan), your monthly car loan payment is $200.

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Definitions:

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