Jacob took out a loan for $950 at a 13.2% APR, compounded monthly, to buy
a dishwasher. If he will make monthly payments of $62.50 to pay off the loan,
which of these expressions could be used to calculate the number of
payments he will have to make?
62.5
62.5+ (950)(0.011)
log (1+0.011)
62.5
O B. 1962.5 + (950)(0.011))
log (1 -0.011)
62.5
oc. log (62.5 - (950)(0.011)
log (1 -0.011)
O
D. 109 62.5 - (950)(0.011)
log (1 +0 011).
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