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26-03-2018
Mathematics

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Explain what each variable in the formula represents.
Will give brainlist

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26-03-2018

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Hi where is the formula.
Part 1:
P is the principal amount of the loan
i is the interest rate of the loan
t is the term of the loan

Part 2:
Increasing the principal and interest rate will result to a higher monthly payment. Increasing the term of the loan will produce the opposite result.

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