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(1 point) From Rogawski 2e section 15.4, exercise 37. The monthly payment for a home...

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(1 point) From Rogawski 2e section 15.4, exercise 37. The monthly payment for a home loan is given by a function f(P,r, N) where P is the principal (the initial size of the loan), r the interest rate, and N the length of the loan in months. Interest rates are expressed as a decimal: A % interest rate is denoted by p=0.05. If P = 100000, r = 0.05, and N = 324(a 27-year loan), then the monthly payment is f(100000,0.05, 324) = 963. Furthermore, with these values we have af = 0.0084, af ar 9729, af aN -1.4481 Estimate: (a) The change in monthly payment per 3500 increase in loan principal: Af dollars (b) The change in monthly payment if the interest rate changes from r = 0.05 to r = 0.065: dollars (c) The change in monthly payment if the length of the loan changes from 27 to 26 years: Af dollars

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