EBK WEBASSIGN FOR LARSON'S TRIGONOMETRY
EBK WEBASSIGN FOR LARSON'S TRIGONOMETRY
10th Edition
ISBN: 9781337879620
Author: Larson
Publisher: VST
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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=MMPr121+r1212t and v=MPr121+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=MMPr121+r1212t and v=MPr121+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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