A(t)=P(1+r/n)^nt
A(t)=39,145(1+.03/12)^12t
1.Being a smart financial planner, you want to figure out how many months it will be until your principal is paid down to $10,000.00. Solve for t and show all of your work. Note that t will be negative because the number of months will decrease the principal.
2.Lastly, you decide to keep track of your loan four times a month instead of monthly. Solve for the adjusted interest rate.

Question

A(t)=P(1+r/n)^nt
A(t)=39,145(1+.03/12)^12t
 1.Being a smart financial planner, you want to figure out how many months it will be until your principal is paid down to $10,000.00. Solve for t and show all of your work. Note that t will be negative because the number of months will decrease the principal.
2.Lastly, you decide to keep track of your loan four times a month instead of monthly. Solve for the adjusted interest rate.