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You plan to take out a 30-year fixed rate mortgage for $250,000. Let P(r) be your monthly payment if the interest rate is r% per

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You plan to take out a 30-year fixed rate mortgage for $250,000. Let P(r) be your monthly payment if the interest rate is r% per year, compounded monthly. Interpret the equations (a) P(5)= 1342.05 and (b) P'(5) = 152.79. (a) Interpret P(5) = 1342.05. Select the correct answer below. A. If the interest rate on the mortgage is 6%, the monthly payment will be $1342.05 B. If the interest rate on the mortgage is 6%, the monthly payment will be $152.79. C. If the interest rate on the mortgage is 5%, the monthly payment will be $1342.05 D. If the interest rate on the mortgage is 5%, the monthly payment will be $152.79. (b) Interpret P'(5) = 152.79. Select the correct answer below. A. If the interest rate decreases from 6% to 5%, the monthly payment will be approximately $1342.05. B .If the interest rate decreases from 6% to 5%, the monthly payment will increase by approximately $1342.05. C. If the interest rate increases from 5% to 6%, the monthly payment will decrease by approximately $152.79. D. If the interest rate increases from 5% to 6%, the monthly payment will increase by approximately $152.79

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