Question

i REALLY NEED HELP
Price: $39,145
Current interest rate: 3%
Using the function A(t)=P(1+r/n)^nt, create the function that represents your new car loan that is compounded monthly. The principle will be the price of the vehicle you selected, not how much you are putting down.
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.

Answer 1

Lastly, you decide to keep track of your loan four times a month instead of monthly. Solve for the adjusted interest rate. Remember to use the formula A(t)=P[(1+r/n)1c]^cnt where c = 4. When solving for the adjusted interest rate, be sure to set it equal to 1+r/n.

Answer 2

i have done number 1 and 2. need help on three.

Answer 3

My answers:
1.A(t)=39,145(1+0.03/12)^12t
2.-45.5

Answer 4

@ganeshie8

Answer 5

@flasht

Answer 6

@ganeshie8

Answer 7

@DanJS

Answer 8

@myininaya

Answer 9

@Compassionate

Answer 10

@satellite73

Answer 11

@myininaya