Concept explainers
a.
To plot the graph corresponding to the given function.
a.
Explanation of Solution
Given Information:
The total interest paid on a home mortgage of dollars at interest for years is
It is also given that and
Calculation:
The graph corresponding to the total interest function is shown below:
Here for the given and
b.
To find out whether it is possible to pay twice as much as in interest charges as the size of the mortagage.
b.
Answer to Problem 59E
Yes, it is possible to pay twice as much as in interest charges as the size of the mortagage.
Explanation of Solution
It has been given that the total interest paid is the same as the size of the mortgage.
Taking and solve for
Dividing both sides by
Adding 1 on both sides
On rearranging the equation
Dividing both sides by 2
On rearranging
From the graph, when years.
It would approximately take 37.6 years to pay in interest.
Yes, it is possible to pay twice as much as in interest charges as the size of the mortagage.
It is especially likely when the interest rates are higher.
Chapter 3 Solutions
EBK PRECALCULUS W/LIMITS
- Calculus: Early TranscendentalsCalculusISBN:9781285741550Author:James StewartPublisher:Cengage LearningThomas' Calculus (14th Edition)CalculusISBN:9780134438986Author:Joel R. Hass, Christopher E. Heil, Maurice D. WeirPublisher:PEARSONCalculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning