College Algebra (10th Edition)

Published by Pearson
ISBN 10: 0321979478
ISBN 13: 978-0-32197-947-6

Chapter 2 - Review Exercises - Page 196: 33

Answer

Equation is $p = 0.00657B$ and p = 1084 for B = 165,000

Work Step by Step

Monthly payment varies with amount borrowed $p = kB$ Given p = \$854 when B =\$130, 000 Putting values in the equation to get k $854 = k*130000$ =>$k = 0.00657$ so $p = 0.00657B$ Now given B = 165, 000 find p $p = 0.00657*165000$ => $p = 1084$
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