Use the given payment schedule. a. What is the loan amount? b. What is the length of
Question:
a. What is the loan amount?
b. What is the length of the loan?
c. What is the approximate monthly payment rounded to the nearest cent?
d. What is the total interest paid over the life of the loan?
e. Construct a scatterplot using the data points (year, loan balance).
f. Write a linear regression equation that approximates the year/loan balance relationship. Round to the nearest hundredth.
g. Write a quadratic regression equation that approximates the year/loan balance relationship. Round to the nearest hundredth.
h. Write a cubic regression equation that approximates the year/loan balance relationship. Round to the nearest hundredth.
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Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
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