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?
A
62.5
62.5+ (950) (0.011)
log (1 -0.011)
109
O
62.5
62.5 - (950) (0.011))
log (1 +0.011)
log
O
62.5
62.5 - (950)(0.011)
log (1 -0.011)
log
62.5
O
O d. 109
62.5
62.5+ (950) 0.011)
log (1 +0.011)