Mortgage Debt The rate of change of mortgage debt outstanding for one- to four-family
Chapter 5, Problem 96(choose chapter or problem)
Mortgage Debt The rate of change of mortgage debt outstanding for one- to four-family homes in the United States from 1998 through 2005 can be modeled bywhere is the mortgage debt outstanding (in billions of dollars) and is the year, with corresponding to 1998. In 1998, the mortgage debt outstanding in the United States was $4259 billion. (Source: Board of Governors of the Federal Reserve System) (a) Write a model for the debt as a function of . (b) What was the average mortgage debt outstanding for 1998 through 2005?
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