A recent college student borrowed $100,000 at an interest rate of 9%. With salary increases, he expects to make payments at a monthly rate of 800*(1+t/120), where t is number of months since the loan was made.(adsbygoogle = window.adsbygoogle || []).push({});

(a.) Assuming that this payment schedule can be maintained, when will the loan be fully paid?

I figured that I would need to differentiate this equation (800*(1+t/120)), and i got:

(96,000)/(14,400) = 6.66

I have a feeling that I am going about this all wrong. any suggestions?

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# Differential equation involving money

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