The monthly payment p on a mortgage varies directly with the

Last updated: 3/27/2023

The monthly payment p on a mortgage varies directly with the amount borrowed B If the monthly payment on a 30 year mortgage is 6 95 for every 1000 borrow ind a linear equation that relates the monthly payment p to the amount borrowed B for a mortgage with the same terms Then find the monthly payment p when the amount borrowed is 245 000 What is the general formula describing the variation Use k for the constant of proportionality Op kB O p B O p kB k PE B