A couple seeking to buy a home decides that a monthly payment of $800 fits their budget. Their bank's interest rate is 7.5%. The amount they can borrow A is a function of the time t in years that it will take to repay the debt. If we denote this function by , then the following table defines the function.

Source: Comprehensive Mortgage Payment Tables, Publication No. 492, Financial Publishing Co., Boston
Choose the expression in the form which describes how long they will have to make payments if they need to borrow $103,000.

C)
E)

Question

A couple seeking to buy a home decides that a monthly payment of $800 fits their budget. Their bank's interest rate is 7.5%. The amount they can borrow A is a function of the time t in years that it will take to repay the debt. If we denote this function by  , then the following table defines the function. ​

Source: Comprehensive Mortgage Payment Tables, Publication No. 492, Financial Publishing Co., Boston
Choose the expression in the form  which describes how long they will have to make payments if they need to borrow $103,000.
​
C) ​ 
E) ​

Quizplus · Accepted Answer

The Answer of A couple seeking to buy a home decides that a monthly payment of $800 fits their budget. Their bank's interest rate is 7.5%. The amount they can borrow A is a function of the time t in years that it will take to repay the debt. If we denote this function by  , then the following table defines the function. ​

Source: Comprehensive Mortgage Payment Tables, Publication No. 492, Financial Publishing Co., Boston
Choose the expression in the form  which describes how long they will have to make payments if they need to borrow $103,000.
​
C) ​ 
E) ​

A Couple Seeking to Buy a Home Decides That a Monthly