Question #25, 27, 29 & 31

Ch. 4 EXPONENTIAL AND LOGARITHMIC FUNCTIONS 4.4 Equations and Applications In 2016, the most affordable housing market in the country was Detroit, Michigan. If the average price of four-bedroom house in Detroit is $64,000, what will be the monthly payment on a 30-year mortgage at interest with a 20% down payment be for an average priced home? The median price of a single family home in Honolulu in July of 2017 was $675,000. If a home is purchased at this price, compute the monthly payment and the total of the payments plus the down payment, given the term of the loan, the interest rate, and the down payment: 26. 30 years: 3.5% interest: 20% down payment 27. 30 years: 4% interest: 20% down payment 28. 15 years: 3.5% interest: 20% down payment 29. 15 years: 3% interest: 20% down payment 30. 15 years: 3% interest; 10% down payment 31. Is it better to take out a 30-year mortgage loan or a 15-year loan? What are the advantages of each? You can use the answers in problems 26 and 28 to compare. 32. Malthusian Model. The British economist Thomas Malthus theorized that populations grew according to the exponential growth formula A = Ae" where A is the population after years; 4is the population when I = 0; and k = ln(1 + g), where g is the annual percentage rate of growth written as a decimal. In 1962, the world population was approximately 3.150 billion people and had grown to 4.238 billion by 1978. What was the annual growth rate of the population between 1962 and 1978? Ir Malthus was correct, what will the population be in 2025? 33. In chemistry, the pH of a subs of a substance is defined by pH = -log H'l, where th') is the concentration of hydrogen ions in the substance measured mocs per her. It is a measure of the acidity in a substance Find the pH of each substance, rounded to the nearest hundredth: A. milk: (H) = 4 * 10-moles/liter B. beer: H'] = 3.16 * 10 moles/liter