The Smith's borrow $45,000 to purchase a new home. They finance the amount through a 25-yr mortgage at an annual interest rate of 5.49%, compounded monthly. Find the Smith's monthly mortgage payment. O $276.07 O $302.51 O $205.88 O $8.24

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 22E
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17. Answer the two multiple choice questions
Solve the problem.
The Smith's borrow $45,000 to purchase a new home. They finance the amount through a 25-yr mortgage at an annual interest
rate of 5.49%, compounded monthly. Find the Smith's monthly mortgage payment.
O $276.07
O $302.51
O $205.88
O $8.24
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Transcribed Image Text:Solve the problem. The Smith's borrow $45,000 to purchase a new home. They finance the amount through a 25-yr mortgage at an annual interest rate of 5.49%, compounded monthly. Find the Smith's monthly mortgage payment. O $276.07 O $302.51 O $205.88 O $8.24 « Previous Next ▸
Solve the problem.
The natural resources of an island limit the growth of the population to a limiting value of 2817. The population of the island is
given by the logistic equation
P(t)-
2817
1+4.34e-0.41t
where t is the number of years after 1980. What is the population of the island in 1983?
O 1118 people
O 1242 people
O 1180 people
O 726 people
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Transcribed Image Text:Solve the problem. The natural resources of an island limit the growth of the population to a limiting value of 2817. The population of the island is given by the logistic equation P(t)- 2817 1+4.34e-0.41t where t is the number of years after 1980. What is the population of the island in 1983? O 1118 people O 1242 people O 1180 people O 726 people Previous Next. Submit Quiz Not saved
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