To graph: The functions for amount paid toward the interest and amount paid toward the reduction of the principal given as u = M − M − P r 12 1 + r 12 12 t and v = M − P r 12 1 + r 12 12 t , respectively in the same viewing window for a $ 120 , 000 home mortgage for 30 years at 7 1 2 % that has a monthly payment of $ 839.06 , such that part of the monthly payment covers the interest charge on the unpaid balance, and the remainder of the payment reduces the principal, where P is the amount of the mortgage, r is the interest rate (in decimal form), M is the monthly payment, and t is the time in years.

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Answer 1

Question

Chapter 5.5, Problem 58E

(a)

To determine

To graph: The functions for amount paid toward the interest and amount paid toward the reduction of the principal given as u=M−M−Pr121+r1212t and v=M−Pr121+r1212t, respectively in the same viewing window for a $120,000 home mortgage for 30 years at 712% that has a monthly payment of $839.06, such that part of the monthly payment covers the interest charge on the unpaid balance, and the remainder of the payment reduces the principal, where P is the amount of the mortgage, r is the interest rate (in decimal form), M is the monthly payment, and t is the time in years.

(b)

To determine

Whether the greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and also, approximate the time when the monthly payment is evenly divided between interest and principal reduction.

(c)

To determine

The graph of functions u=M−M−Pr121+r1212t and v=M−Pr121+r1212t for a period of 20 years with M=$966.71, and check if greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and approximate the time when the monthly payment is evenly divided between interest and principal reduction.

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Answer 2

Question

Chapter 5.5, Problem 58E

(a)

To determine

To graph: The functions for amount paid toward the interest and amount paid toward the reduction of the principal given as u=M−M−Pr121+r1212t and v=M−Pr121+r1212t, respectively in the same viewing window for a $120,000 home mortgage for 30 years at 712% that has a monthly payment of $839.06, such that part of the monthly payment covers the interest charge on the unpaid balance, and the remainder of the payment reduces the principal, where P is the amount of the mortgage, r is the interest rate (in decimal form), M is the monthly payment, and t is the time in years.

(b)

To determine

Whether the greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and also, approximate the time when the monthly payment is evenly divided between interest and principal reduction.

(c)

To determine

The graph of functions u=M−M−Pr121+r1212t and v=M−Pr121+r1212t for a period of 20 years with M=$966.71, and check if greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and approximate the time when the monthly payment is evenly divided between interest and principal reduction.

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Answer 3

Question

Chapter 5.5, Problem 58E

(a)

To determine

To graph: The functions for amount paid toward the interest and amount paid toward the reduction of the principal given as u=M−M−Pr121+r1212t and v=M−Pr121+r1212t, respectively in the same viewing window for a $120,000 home mortgage for 30 years at 712% that has a monthly payment of $839.06, such that part of the monthly payment covers the interest charge on the unpaid balance, and the remainder of the payment reduces the principal, where P is the amount of the mortgage, r is the interest rate (in decimal form), M is the monthly payment, and t is the time in years.

(b)

To determine

Whether the greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and also, approximate the time when the monthly payment is evenly divided between interest and principal reduction.

(c)

To determine

The graph of functions u=M−M−Pr121+r1212t and v=M−Pr121+r1212t for a period of 20 years with M=$966.71, and check if greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and approximate the time when the monthly payment is evenly divided between interest and principal reduction.

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Answer 4

Question

Chapter 5.5, Problem 58E

(a)

To determine

To graph: The functions for amount paid toward the interest and amount paid toward the reduction of the principal given as u=M−M−Pr121+r1212t and v=M−Pr121+r1212t, respectively in the same viewing window for a $120,000 home mortgage for 30 years at 712% that has a monthly payment of $839.06, such that part of the monthly payment covers the interest charge on the unpaid balance, and the remainder of the payment reduces the principal, where P is the amount of the mortgage, r is the interest rate (in decimal form), M is the monthly payment, and t is the time in years.

(b)

To determine

Whether the greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and also, approximate the time when the monthly payment is evenly divided between interest and principal reduction.

(c)

To determine

The graph of functions u=M−M−Pr121+r1212t and v=M−Pr121+r1212t for a period of 20 years with M=$966.71, and check if greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and approximate the time when the monthly payment is evenly divided between interest and principal reduction.

Expert Solution & Answer

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Answer 5

Chapter 5.5, Problem 58E

(a)

To determine

To graph: The functions for amount paid toward the interest and amount paid toward the reduction of the principal given as u=M−M−Pr121+r1212t and v=M−Pr121+r1212t, respectively in the same viewing window for a $120,000 home mortgage for 30 years at 712% that has a monthly payment of $839.06, such that part of the monthly payment covers the interest charge on the unpaid balance, and the remainder of the payment reduces the principal, where P is the amount of the mortgage, r is the interest rate (in decimal form), M is the monthly payment, and t is the time in years.

(b)

To determine

Whether the greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and also, approximate the time when the monthly payment is evenly divided between interest and principal reduction.

(c)

To determine

The graph of functions u=M−M−Pr121+r1212t and v=M−Pr121+r1212t for a period of 20 years with M=$966.71, and check if greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and approximate the time when the monthly payment is evenly divided between interest and principal reduction.

Answer 6

Chapter 5.5, Problem 58E

(a)

To determine

To graph: The functions for amount paid toward the interest and amount paid toward the reduction of the principal given as u=M−M−Pr121+r1212t and v=M−Pr121+r1212t, respectively in the same viewing window for a $120,000 home mortgage for 30 years at 712% that has a monthly payment of $839.06, such that part of the monthly payment covers the interest charge on the unpaid balance, and the remainder of the payment reduces the principal, where P is the amount of the mortgage, r is the interest rate (in decimal form), M is the monthly payment, and t is the time in years.

Answer 7

Chapter 5.5, Problem 58E

(a)

To determine

To graph: The functions for amount paid toward the interest and amount paid toward the reduction of the principal given as u=M−M−Pr121+r1212t and v=M−Pr121+r1212t, respectively in the same viewing window for a $120,000 home mortgage for 30 years at 712% that has a monthly payment of $839.06, such that part of the monthly payment covers the interest charge on the unpaid balance, and the remainder of the payment reduces the principal, where P is the amount of the mortgage, r is the interest rate (in decimal form), M is the monthly payment, and t is the time in years.

Answer 8

(b)

To determine

Whether the greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and also, approximate the time when the monthly payment is evenly divided between interest and principal reduction.

Answer 9

(b)

To determine

Whether the greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and also, approximate the time when the monthly payment is evenly divided between interest and principal reduction.

Answer 10

(c)

To determine

The graph of functions u=M−M−Pr121+r1212t and v=M−Pr121+r1212t for a period of 20 years with M=$966.71, and check if greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and approximate the time when the monthly payment is evenly divided between interest and principal reduction.

Answer 11

(c)

To determine

The graph of functions u=M−M−Pr121+r1212t and v=M−Pr121+r1212t for a period of 20 years with M=$966.71, and check if greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and approximate the time when the monthly payment is evenly divided between interest and principal reduction.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 5.1 - Use a calculator to evaluate fx=8x at x=2.Ch. 5.1 - Prob. 2ECP Ch. 5.1 - Prob. 3ECP Ch. 5.1 - Prob. 4ECP Ch. 5.1 - Prob. 5ECP Ch. 5.1 - Prob. 6ECP Ch. 5.1 - Prob. 7ECP Ch. 5.1 - You invest $6000 at an annual rate of 4. Find the...Ch. 5.1 - Prob. 9ECP Ch. 5.1 - Prob. 1E

Solution Summary: The author compares the functions for interest and reduction of the principal for a 120,000 home mortgage for 30 years at 7

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Whether the greater part of the monthly payment is paid toward the interest or the principal in early years of mortgage, and also, approximate the time when the monthly payment is evenly divided between interest and principal reduction.

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