*Advance Algebra With Financial Application*

Part 1: Explain what the following variables represent and how changing each one affects the monthly payment amount: P, i, and t.

Part 2: Explain how changing each variable (P, i, and t) affects the total cost of principal and interest over the life of the loan.

Question

*Advance Algebra With Financial Application* 

Part 1: Explain what the following variables represent and how changing each one affects the monthly payment amount: P, i, and t.

Part 2: Explain how changing each variable (P, i, and t) affects the total cost of principal and interest over the life of the loan.

anonymous · Answer

attachment

anonymous · Answer

I know that
P=Principal
I=Interest Rate
T= time period