Loan repayment A college student receives an interest-free loan of $8250 from a relative. The student will repay $125 per month until the loan is paid off.
(a) Express the amount P (in dollars) remaining to be paid in terms of time t (in months).
(b) After how many months will the student owe $5000?
(c) Sketch, on a tP-plane, a graph that shows the relationship between P and t for the duration of the loan.
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