Use the given yearly payment schedule. a. What is the loan amount? b. What is the length
Question:
a. What is the loan amount?
b. What is the length of the loan?
c. What is the monthly payment?
d. What is the total interest paid?
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 nearest hundredth.
g. Write a quadratic regression equation that approximates the year/loan balance relationship. Round to nearest hundredth.
h. Write a cubic regression equation that approximates the year/loan balance relationship. Round to the nearest hundredth.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
Question Posted: