Business, 25.03.2020 23:00 quay84

Ou plan to take out a 30-year fixed rate mortgage for $225.000. Let P(r) be your monthly payment if the interest rate is r% per year, compounded monthly. Interpret the equations (a) P(4) 1074.18 and (b) P(4) 129.72.(a) Interpret P(4) 1074.18. Select the correct answer below. A. If the interest rate on the mortgage is 4%, the monthly payment will be $129.72.B. If the interest rate on the mortgage is 4%, the monthly payment will be $1074.18.C. If the interest rate on the mortgage is 5%, the monthly payment will be $1074.18.D. If the interest rate on the mortgage is 5%, the monthly payment will be $129.72.

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Ou plan to take out a 30-year fixed rate mortgage for $225.000. Let P(r) be your monthly payment if...

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