Sam borrows $\$20{,}000$ from a bank at an interest rate of 8% and pays back the loan continuously at a rate of $N$ dollars/year. Let $P(t)$ denote the amount still owed at time $t$.

(a) Does $P(t)$ satisfy the differential equation $y' = {0.08}y - N$?
A. no
B. yes

(b) How long will it take Sam to pay back the loan if $N = \$1{,}700$?
It will take Sam approximately years to pay back the loan.
Answer to the nearest whole year.

(c) Will he ever be able to pay back the loan if $N = 1200$ dollars?
A. yes
B. no