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Please show work. The table shows monthly payments on a $1000 loan.t Monthly Payments (dollars) per $1000 Loan Monthly Interest (%) Term (months) | 24
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The table shows monthly payments on a $1000 loan.t Monthly Payments (dollars) per $1000 Loan Monthly Interest (%) Term (months) | 24 | 36 | 42 48 60 5| 43.87 29.97 26.00 23.03 | 18.87 6 44.32 30.42 26.46 23.49 19.33 44.77 | 30.88 26.91 | 23.951 19.80 8 45.23 31.34 | 27.38 24.41 | 20.28 9 45.68 | 31.80 27.84 | 24.89 20.76 10 46.14 32.27 1 28.32 25.36 21.25 11 46.61 32.74 28.79 25.85 21.74 12 47.07 33.21 | 29.28 26.33 22.24 (c) Find the function of the quadratic cross-sectional model that gives the monthly payment in dollars on a $1000 loan, where t months is the length of the loan and 8% is the interest rate, with data from 24 sts 60. (Round all numerical values to three decimal places.) m(t, 8) = dollars Estimate the monthly payments for a 12-month loan at 8%. (Round your answer to the nearest cent.) $ The table shows monthly payments on a $1000 loan.t Monthly Payments (dollars) per $1000 Loan Monthly Interest (%) Term (months) | 24 | 36 | 42 48 60 5| 43.87 29.97 26.00 23.03 | 18.87 6 44.32 30.42 26.46 23.49 19.33 44.77 | 30.88 26.91 | 23.951 19.80 8 45.23 31.34 | 27.38 24.41 | 20.28 9 45.68 | 31.80 27.84 | 24.89 20.76 10 46.14 32.27 1 28.32 25.36 21.25 11 46.61 32.74 28.79 25.85 21.74 12 47.07 33.21 | 29.28 26.33 22.24 (c) Find the function of the quadratic cross-sectional model that gives the monthly payment in dollars on a $1000 loan, where t months is the length of the loan and 8% is the interest rate, with data from 24 sts 60. (Round all numerical values to three decimal places.) m(t, 8) = dollars Estimate the monthly payments for a 12-month loan at 8%. (Round your answer to the nearest cent.) $Step by Step Solution
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