Question

Sully has a loan which he repays every month. If the loan amount includes interest, his loan amount due, in dollars, after t years, is shown by the following expression.

7,000(0.90)^12t

Which statement below best describes the coefficient, 7,000?

A. The number of times sully repaid the loan since he began making payments
B. Sully’s initial loan amount
C. The decrease in Sully’s loan amount every month
D. The rate at which Sully repays the loan

Answer 1

Sully's initial loan amount

edit: i accidently rated my answer as 1 star but i promise its right

Answer 2

i would say its B. The initial loan amount