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This activity has been modified from Real World Learning Objects, Internet-based Activities for Higher Education. The need to access an online calculator has been removed. Students are asked to price a car, determine an acceptable monthly payment and then using the formula calculate the number of months needed to pay off the loan. This requires solving an exponential equation using logarithms.
This resource was reviewed using the Curriki Review rubric and received an overall Curriki Review System rating of 0, as of 1970-01-01.
The interest rate needs to be the monthly interest rate, written as a decimal.