I need help solving this problem #10 its in section 8.3 of \"applied Calculus\"

Question

I need help solving this problem #10 its in section 8.3 of "applied Calculus" edition 5

The monthly mortgage payment in dollars. P. for a house is a function of three variables. P = f(A,r, N), where A is the amount borrowed in dollars, r is the interest rate, and N is the number of years before the men-gage is paid off. f (92000,14,30) = 1090.08. What does this telI you, in financial terms? = 72.82. What is the financial significance of the number 72.82? Would you expect P/ A to be positive or nega-tive? Why? Would you expect P/ N to be positive or negative? Why? The sales of a product, S = f(p, a), are a function of the

Explanation / Answer

a)monthly mortage payment =1090.08$ when amount borrowed is 92000$,interest rate is 14 ,number of years before moretage is paid off is 30 years

b)P/r =72.82

with A,N constants, montly mortage payment increases by 72.82$ rate of interest increased by one unit

c)P/A is positive with N,r constant, amount paid every month increases if amount of money borrowed increases

d) P/N is negative,with A,r constant t, amount paid every month decreases if period of payment increases

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