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The figure below shows the monthly payment, m, on a 5-year car loan if you borrow P dollars at r percent interest. Find a formula

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The figure below shows the monthly payment, m, on a 5-year car loan if you borrow P dollars at r percent interest. Find a formula for a linear function which approximates m. (The model is about the same at any point). What is the practical significance of each of the constants in your formula? 8000 7000 6000 loan amount (P) 120 5000 100 4000 3000 2000 3 5 7 9 11 13 15 interest rater

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