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The monthly payment for a home loan is given by a function f(P,r, N) where P is the principal (the initial size of the loan), r the interest rate, and N the length of the loan in months. Interest rates are expressed as a decimal: A % interest rate is denoted by If P = 500000, r = 0.075, and N = 348(a 29-year loan), then the monthly payment is f(500000, 0.075, 348) = 692. Furthermore, with r = 0.075. these values we have fe = 0.007, ƏP af = 5350, dr af = -1.4315 ƏN Estimate: (a) The change in monthly payment per 3000 increase in loan principal: Af = dollars (b) The change in monthly payment if the interest rate changes from r = 0.075 to r = 0.08: Aƒ = dollars (c) The change in monthly payment if the length of the loan changes from 29 to 30 years: Af = dollars

The monthly payment for a home loan is given by a function f(P,r, N) where P is the principal (the initial size of the loan), r the interest rate, and N the length of the loan in months. Interest rates are expressed as a decimal: A % interest rate is denoted by If P = 500000, r = 0.075, and N = 348(a 29-year loan), then the monthly payment is f(500000, 0.075, 348) = 692. Furthermore, with r = 0.075. these values we have fe = 0.007, ƏP af = 5350, dr af = -1.4315 ƏN Estimate: (a) The change in monthly payment per 3000 increase in loan principal: Af = dollars (b) The change in monthly payment if the interest rate changes from r = 0.075 to r = 0.08: Aƒ = dollars (c) The change in monthly payment if the length of the loan changes from 29 to 30 years: Af = dollars

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 94E
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The monthly payment for a home loan is given by a function f(P,r, N) where P is the principal (the initial size of the loan), r the interest rate, and N the length of the loan in months. Interest rates are expressed as a decimal: A % interest rate is denoted by r = 0.075. If P = 500000, r = 0.075, and N = 348(a 29-year loan), then the monthly payment is f(500000, 0.075, 348) = 692. Furthermore, with these values we have af = 0.007, ƏP af 5350, af -1.4315 ar ƏN Estimate: (a) The change in monthly payment per 3000 increase in loan principal: Af = dollars (b) The change in monthly payment if the interest rate changes from r = 0.075 to r = 0.08: Af = dollars (c) The change in monthly payment if the length of the loan changes from 29 to 30 years: Af = dollars
Transcribed Image Text:The monthly payment for a home loan is given by a function f(P,r, N) where P is the principal (the initial size of the loan), r the interest rate, and N the length of the loan in months. Interest rates are expressed as a decimal: A % interest rate is denoted by r = 0.075. If P = 500000, r = 0.075, and N = 348(a 29-year loan), then the monthly payment is f(500000, 0.075, 348) = 692. Furthermore, with these values we have af = 0.007, ƏP af 5350, af -1.4315 ar ƏN Estimate: (a) The change in monthly payment per 3000 increase in loan principal: Af = dollars (b) The change in monthly payment if the interest rate changes from r = 0.075 to r = 0.08: Af = dollars (c) The change in monthly payment if the length of the loan changes from 29 to 30 years: Af = dollars
Compute the partial derivatives: z = In(x³ + y7) dz dz I ||
Transcribed Image Text:Compute the partial derivatives: z = In(x³ + y7) dz dz I ||
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