he model t = 16.625 ln (x/x-750), x > 750 approximates the length of a home mortgage of $150,000 at 6% in terms of the monthly payment. In the model, t is the length of the mortgage in years and x is the monthly payment in dollars. b)Approximate the total amounts paid over the term of the mortgage with a monthly payment of $897.72 and with a monthly payment of $1,692.39. (Round your answers to two decimal places.) $897.72 $ $1,692.39 $
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
The model
approximates the length of a home mortgage of $150,000 at 6% in terms of the monthly payment. In the model, t is the length of the mortgage in years and x is the monthly payment in dollars.
b)Approximate the total amounts paid over the term of the mortgage with a monthly payment of $897.72 and with a monthly payment of $1,692.39. (Round your answers to two decimal places.)
| $897.72 | $ |
| $1,692.39 | $ |
What amount of the total is interest costs over the term of the mortgage for a monthly payment of $897.72 and for a monthly payment of $1,692.39? (Round your answers to two decimal places.)
| $897.72 | $ |
| $1,692.39 | $ |
(c) What is the vertical asymptote for the model?
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