Concept explainers
i. Find the length of period using the given model with monthly payment of $1395.84.
Time period in years.
i. Find the length of period using the given model with monthly payment of $1395.84.

Answer to Problem 48CR
Time (t) = 20 years
Explanation of Solution
Given:
- The Model:
where,
- t = Length of Mortgage in years.
- x = Monthly payment in dollars.
Calculation:
Conclusion:
Time (t) = 20 years
ii. Approximate the total amount paid and the interest.
Total amount paid and the interest paid.
ii. Approximate the total amount paid and the interest.

Answer to Problem 48CR
- Amount = $ 335001
- Interest Paid = $ 119001
Explanation of Solution
Given:
- The Model:
where,
- t = Length of Mortgage in years.
- x = Monthly payment in dollars.
Calculation:
Conclusion:
- Amount = $ 335001
- Interest Paid = $ 119001
Chapter 3 Solutions
PRECALCULUS W/LIMITS:GRAPH.APPROACH(HS)
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