Frank borrowed money from his dad to buy a motorcycle. To repay his loan, Frank paid his dad $200 each month. After 14 months, his remaining debt was $3,200.
• Rrepresents the remaining debt at a given time.
• L represents the original loan amount.
• T represents the time (in months).
Which THREE statements are correct?
A)
The original loan amount was $6,000.
B)
It will take Frank 16 months to pay back his dad.
C)
It will take Frank 30 months to pay back his dad.
D)
The equation R-L-200T can be used to model this situation.
E)
The equation L=R-200T can be used to model this situation.