The following table is taken from the website of Freddie Mac. It shows rates for 30-year fixed-rate mortgages since 1970. y = Year r = Mortgage rate 1975 9.05% 1980 13.74% 1985 12.43% 1990 10.13% 1995 7.93% 2000 8.05% 2005 5.87% 2010 4.69% 2015 3.84% Use the values of r for 1990 and 1995 given in the table to estimate the value of r(1993).
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
| y = Year | r = Mortgage rate |
|---|---|
| 1975 | 9.05% |
| 1980 | 13.74% |
| 1985 | 12.43% |
| 1990 | 10.13% |
| 1995 | 7.93% |
| 2000 | 8.05% |
| 2005 | 5.87% |
| 2010 | 4.69% |
| 2015 | 3.84% |
Use the values of r for 1990 and 1995 given in the table to estimate the value of
(Round your answer to two decimal places.)
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