Write an equation for L, in terms of t, representing the amount Jordan owes his friend after t weeks.

Question

Jordan borrowed some money from his friend in order to help buy a new video game system and agreed to pay the friend back a constant amount each week.

Answer 1

So far, we have L as the remaining amount of the loan to be paid, and t as the number of weeks since the loan was made. Let's also define L₀ as the original amount loaned (which is also the remaining amount when t = 0). Finally, we need a constant to represent the amount of the weekly payment -- let's call it p.

Putting this all together, we have L = L₀ - pt