Mathematics, 07.12.2019 07:31 hidagiser
If the interest rate for a 15-year fixed rate mortgage is 5.00%, then the corresponding 30-year fixed rate is 6.39%. if the 15-year rate decreases to 4.00%, then the 30-year rate decreases to 4.99%.
a. assume that the relationship between the 15-year fixed rate (%) and the 30-year fixed rate (%) is linear. find the equation of the line that describes this relationship. write your answer in slope-intercept form. let x be the 15-year fixed rate and the y be the 30-year fixed rate.
b. use your equation from part a to estimate the 30-year fixed rate if the 15-year fixed rate is 4.5%.
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If the interest rate for a 15-year fixed rate mortgage is 5.00%, then the corresponding 30-year fixe...
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