500
Juma is deciding to buy a car worth $25000.The car dealer is selling it on credit at an interest rate of 6% per year for zero down payment. If a down payment of $5000 is made, the interest rate reduces to 4.5% per year.
Write a function to determine how much Juma will owe the dealer ,t, years after the purchase, if she makes the down payment. Assume continuous compounded interest
What is y = 20,000e^0.045t