What the given equation m = ((C + 200y) - 8000))/12y represents is as follows;
m is the amount of each monthly payment
C is the cost of the car
y is the length of loan in years
(C + 200y) - 8000) is the total amount she will repay
12y is the number of payments that she will make
How to interpret Compound Interest formula?
We know that the formula to get the compound interest is;
A = P(1 + r/100)ⁿ
Where;
A is Amount.
P is Principal
r is Rate of interest
n is time in years
Now, when we compare that to our formula given as;
m = ((C + 200y) - 8000))/12y
we can say that;
m is the amount of each monthly payment
C is the cost of the car
y is the length of loan in years
(C + 200y) - 8000) is the total amount she will repay
12y is the number of payments that she will make
Read more about Compound Interest formula at; https://brainly.com/question/24924853
#SPJ1
