Question
A study prepared for the National Association of Realtors estimates that the number of housing starts in the southwest, N ( t ), in millions,
A study prepared for the National Association of Realtors estimates that the number of housing starts in the southwest, N(t), in millions, over the next 5 years is related to the mortgage rate r(t), in percent per year, by the model 9N^2+r=36, where t is in years. What is the rate of change of the number of housing starts with respect to time when the mortgage rate is 4% per year and is increasing at the rate of 1.25% per year? Round your answer to the nearest thousand and include a sentence that frames your numeric response in the context of the problem.
Given:
Want:
Solution (be sure to include a sentence):
A study prepared for the National Association of Realtors estimates that the number of housing starts in the southwest, N(t), in millions, over the next 5 years is related to the mortgage rate r(t), in percent per year, by the model 9N2 + 7 = 36, where t is in years. What is the rate of change of the number of housing starts with respect to time when the mortgage rate is 4% per year and is increasing at the rate of 1.25% per year? Round your answer to the nearest thousand and include a sentence that frames your numeric response in the context of the problem. Given: Want: I Solution (be sure to include a sentence)Step by Step Solution
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