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The term t (in years) of a $200,000 home mortgage at 7.5% interest can be approximated by the function below, where x is the monthly payment in dollars. t = 13.375 In X - x > 1250 x – 1250. (a) Use a graphing utility to graph the model. LL 0.4 50 40 0.3 30 y 0.2 y 20- 0.1- 10 500 1000 1500 2000 2500 3000 500 1000 1500 2000 2500 3000 50- 0.8 40 0.6 30 y y 0.4 20 0.2 10- 500 1000 1500 2000 2500 3000 500 1000 1500 2000 2500 3000

The term t (in years) of a $200,000 home mortgage at 7.5% interest can be approximated by the function below, where x is the monthly payment in dollars. t = 13.375 In X - x > 1250 x – 1250. (a) Use a graphing utility to graph the model. LL 0.4 50 40 0.3 30 y 0.2 y 20- 0.1- 10 500 1000 1500 2000 2500 3000 500 1000 1500 2000 2500 3000 50- 0.8 40 0.6 30 y y 0.4 20 0.2 10- 500 1000 1500 2000 2500 3000 500 1000 1500 2000 2500 3000

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter9: Quadratic Functions And Equations
Section9.6: Solving Quadratic Equations By Using The Quadratic Formula
Problem 64PFA
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The term t (in years) of a $200,000 home mortgage at 7.5% interest can be approximated by the function below, where x is the monthly payment in dollars. in(-250). t = 13.375 In x > 1250 X – 1250 (a) Use a graphing utility to graph the model. 0.4 50 40- 0.3 30 y 0.2 y 20- 0.1- 10 - 500 1000 1500 2000 2500 3000 500 1000 1500 2000 2500 3000 50 0.8 40 0.6 30 y y 0.4 20 0.2- 10 500 1000 1500 2000 2500 3000 500 1000 1500 2000 2500 3000
Transcribed Image Text:The term t (in years) of a $200,000 home mortgage at 7.5% interest can be approximated by the function below, where x is the monthly payment in dollars. in(-250). t = 13.375 In x > 1250 X – 1250 (a) Use a graphing utility to graph the model. 0.4 50 40- 0.3 30 y 0.2 y 20- 0.1- 10 - 500 1000 1500 2000 2500 3000 500 1000 1500 2000 2500 3000 50 0.8 40 0.6 30 y y 0.4 20 0.2- 10 500 1000 1500 2000 2500 3000 500 1000 1500 2000 2500 3000
(b) Use the model to approximate the term of a home mortgage for which the monthly payment is $1390. (Round your answer to the nearest year.) 31 yr What is the total amount paid? (Round your answer to two decimal places.) $ 517411.08 (c) Use the model to approximate the term of a home mortgage for which the monthly payment is $1610. (Round your answer to the nearest year.) 20 yr What is the total amount paid? (Round your swe to two decimal places.) $ 388742.40 (d) Find the instantaneous rates of change of t with respect to x when x = $1390 and x = $1610. (Round your answers to four decimal places.) t '(1390) =|0.00954 t '(1610) = (e) What are the benefits (if any) of higher monthly payment. (Select all that apply.) a lower total amount paid there are no benefits payment over a shorter term the two payments are the same
Transcribed Image Text:(b) Use the model to approximate the term of a home mortgage for which the monthly payment is $1390. (Round your answer to the nearest year.) 31 yr What is the total amount paid? (Round your answer to two decimal places.) $ 517411.08 (c) Use the model to approximate the term of a home mortgage for which the monthly payment is $1610. (Round your answer to the nearest year.) 20 yr What is the total amount paid? (Round your swe to two decimal places.) $ 388742.40 (d) Find the instantaneous rates of change of t with respect to x when x = $1390 and x = $1610. (Round your answers to four decimal places.) t '(1390) =|0.00954 t '(1610) = (e) What are the benefits (if any) of higher monthly payment. (Select all that apply.) a lower total amount paid there are no benefits payment over a shorter term the two payments are the same
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