Thread: Exponential Functions!!!

Please help me with d) and e). How would I set this equation up?

(d) Using the table, the difference in the monthly payments for each $1,000 is 10.75 - 9.56. So the difference in the monthly payments for each $60,000 is 60(10.75 - 9.56) = d. Over 15 years, you will make 12 x 15 = 180 monthly payments, so the answer is 180d = 180 x 60 x (10.75 - 9.56).

Oh damn thank you so much for you input! You have no idea how long I spent trying to figure this out. I even used an online mortgage calculator to figure it out. But since it doesn't show the work on how to figure out I couldn't write it in my homework. Life saver answer!

Originally Posted by krzyrice

Oh damn thank you so much for you input! You have no idea how long I spent trying to figure this out. I even used an online mortgage calculator to figure it out. But since it doesn't show the work on how to figure out I couldn't write it in my homework. Life saver answer!

You're welcome. Do you see now how to solve (e)?

Yeah I know how to solve e) thanks to your help on d). It's pretty much the same thing except you need to find the interest for 15 years and 30 years and then subtract them. Answer comes out to be $55,296.