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Discuss about the monthly car payment in dollars

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Reference no: EM131614156

Question: Your monthly car payment in dollars is P = f(P0, t, r), where $P0 is the amount you borrowed, t is the number of months it takes to pay off the loan, and r% is the interest rate. What are the units, the financial meaning, and the signs of ∂P/∂t and ∂P/∂r?

Reference no: EM131614156

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