The variable interest rate on a student loan changes eachJuly 1 based on the bank prime loan rate. For the years1992–2007, this rate can be approximated by the modelr(x) = - 0.115x2 + 1.183x + 5.623,where x is the number of years since 1992 and r is theinterest rate as a percent.(a) Use a graphing utility to estimate the highest rate duringthis time period. During which year was the interest ratethe highest?(b) Use the model to estimate the rate in 2010. Does thisvalue seem reasonable?Source: U.S. Federal Reserve

The variable interest rate on a student loan changes eachJuly 1 based on the bank prime loan rate. For the years1992–2007, this rate can be approximated by the modelr(x) = - 0.115x2 + 1.183x + 5.623,where x is the number of years since 1992 and r is theinterest rate as a percent.(a) Use a graphing utility to estimate the highest rate duringthis time period. During which year was the interest ratethe highest?(b) Use the model to estimate the rate in 2010. Does thisvalue seem reasonable?Source: U.S. Federal Reserve

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section4.3: Fitting Linear Models To Data

Problem 24SE: Table 6 shows the year and the number ofpeople unemployed in a particular city for several years....

See similar textbooks

Similar questions

The table gives the population of the United States, in millions, for the years 1900–2010. Use a graphing calculator with exponential regression capability to model the US population since 1900. Use the model to estimate the population in 1925 and to predict the population in the year 2020.
The average amount A (in pounds per person) of fish and shellfish consumed in the UnitedStates during the period 1992–2001 can be modeled by A = (3.2x + 260)/(52x + 3800) where x is the number of years since 1992.Rewrite the model so that it has only whole number coefficients. Then simplify the model.
Calculate the price of the stock at time 0
Find the linearzation to appraximate (1.999)^3
Estimate the instantaneous increase in spending in the year 2004 by taking the average of two average rates of change.
For the years from 2006 and projected to 2021, the national health care expenditures H, in billions of dollars, can be modeled by H = 2009e0.05194t where t is the number of years past 2005.† In what year are national health care expenditures expected to reach $3.3 trillion (that is, $3300 billion)?
Calculate the value of -2x - if x =1/2
The annual number of burglaries in a town rose by 50% in 2012 and fell by 10% in 2013. Hence the total number of burglaries increased by 40% over the two year period. What is the mistaken assumption here? Why is that assumption incorrect? By what percent has the number of burglaries actually changed in the two year period? show calculation By what percent would the crime have to decrease in the second year in order for the change over the two-year period to actually be a 40% increase? Round to nearest 10th percent (ex decimal .05873 is 5.873% to one decimal is 5.9%) show calculation
During what years did home prices decrease? increase?
A 25,000 machiene depreciates linearly to 0 over a ten year period.What is the value of the machiene after 6 years?
Sec4.3:#43
Suppose classmates who graduated in 2004 compared their median incomes ten years later. The bar graph displays the median income, in thousands of dollars, for each classmate during the time intervals from 2005‑2009 and 2010‑2014. For the individual with the largest dollar value increase in median income over the two time intervals, determine the amount of increase.