Explain what each variable in the formula represents. Will give brainlist

1 answer:

lina2011 [118]2 years ago

7 0

PLS MARK ME BRAINLIEST

Hi where is the formula.
Part 1:
P is the principal amount of the loan
i is the interest rate of the loan
t is the term of the loan

Part 2:
Increasing the principal and interest rate will result to a higher monthly payment. Increasing the term of the loan will produce the opposite result.

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