Home Mortgage The model approximates the length of a home
Chapter 3, Problem 3.2.96(choose chapter or problem)
Home Mortgage The model approximates the length of a home mortgage of $150,000 at 6% in terms of the monthly payment. In the model, t is the length of the mortgage in years and x is the monthly payment in dollars. (a) Use the model to approximate the lengths of a $150,000 mortgage at 6% when the monthly payment is $897.72 and when the monthly payment is $1659.24. (b) Approximate the total amounts paid over the term of the mortgage with a monthly payment of $897.72 and with a monthly payment of $1659.24. What amount of the total is interest costs for each payment?
Unfortunately, we don't have that question answered yet. But you can get it answered in just 5 hours by Logging in or Becoming a subscriber.
Becoming a subscriber
Or look for another answer