Algebra: is this right?
posted by bart on .
the amount of money remaining to be paid on a loan, y, is a function of the number of months, x. Suppose that
monthly payments of $225 are to be made on an original loan
amount of $3,000.
Write an expression in terms of x that gives the amount of money remaining to be paid.
$3,000 - $225x
The expression is correct.
The complete mathematical relationship including the function y(x) is:
y(x) = 3000 - 225x
State that the unit of y(x) is in dollars, and x represents the number of monthly payments made.
Note: the above assumes zero interest rate.