Interpret the equations P(2) = 646.83 and P\'(2) = 87.51. Interpret P(2) = 646.S

Question

Interpret the equations P(2) = 646.83 and P'(2) = 87.51. Interpret P(2) = 646.S3. Select the correct answer below. If the interest rate on the mortgage is 2 %, the monthly payment will be S646.S3. If the interest rate on the mortgage is 3%, the monthly payment will be S7.51. If the interest rate on the mortgage is 2%, the monthly payment will be S7.51. 0D. If the interest rate on the mortgage is 3 %, the monthly payment will be S 646.S3. Interpret P'(2) = S7.51. Select the correct answer below. If the interest rate decreases from 33 o to 23 c. the monthly payment will increase by approximately S64-6.S3. If the interest rate decreases from 3 % to 2 %, the monthly payment will be approximately S646.S3. If the interest rate increases from 2 %to 3 % the monthly payment will decrease by approximately S87.51. If the interest rate increases from 2 % to 3 %, the monthly payment will increase by approximately S87.51.

Explanation / Answer

a) P(2) = If the rate of interest on mortgages is 2% then the monthly payment would be 646.83$

b) P'(2) = if the rate of interest increses from 2% to 3% the monthly payment will increase approximately by 87.51$

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