Quiana took out a loan to pay for a new car. Initially, she owed the lender $15,234.68. She has repaid $247.43 of the loan each
month for the past 5 months. What is the net change to the loan from Quiana’s perspective over the past 5 months? Complete the steps below to help Quiana calculate the loan amount that she’s repaid to the lender.
Part A
Write a rational number to express the initial loan amount as it relates to Quiana’s bank account.
The simplest, minimally acceptable answer would stem from multiplying by 5 the $247.43 monthly payment and subtracting the result from the amount initially owed:
