11. We now consider a more realistic problem. Suppose you borrow Bo = $15,000 at a monthly interest rate of 0.5%. More typically the term of the loan (the payback period) is specified in advance and the monthly payment is determined as a function of the term. Use the argument in Steps 4 6, leaving the monthly payment m unspecified, and show that the loan balance after n months is B = 200m - (200m -15,000)1.005". n 11. We now consider a more realistic problem. Suppose you borrow Bo = $15,000 at a monthly interest rate of 0.5%. More typically the term of the loan (the payback period) is specified in advance and the monthly payment is determined as a function of the term. Use the argument in Steps 4 6, leaving the monthly payment m unspecified, and show that the loan balance after n months is B = 200m - (200m -15,000)1.005". n