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You plan to take out a 30-year fixed rate mortgage for $100,000. 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 $100,000. Let P(r) be your monthly payment if the interest rate is r% per year, compounded monthly. Interpret the equations (a) P(5) = 536.82 and (b) P' (5) =61.12. (a) Interpret P(5) = 536.82. Select the correct answer below. A. If the interest rate on the mortgage is 6%, the monthly payment will be $61.12. B. If the interest rate on the mortgage is 5%, the monthly payment will be $536.82. C. If the interest rate on the mortgage is 6%, the monthly payment will be $536.82. ) D. If the interest rate on the mortgage is 5%, the monthly payment will be $61.12. (b) Interpret P'(5) =61.12. Select the correct answer below. ()A. If the interest rate increases from 5% to 6%, the monthly payment will increase by approximately $61.12. B. If the interest rate decreases from 6% to 5%, the monthly payment will be approximately $536.82 )C. If the interest rate decreases from 6% to 5%, the monthly payment will increase by approximately $536.82 ()D. If the interest rate increases from 5% to 6%, the monthly payment will decrease by approximately $61 12

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