Mortgages The balance owed y on a $50,000 mortgage after x monthly payments is shown in the table that follows. Graph the data points with each of the equations below to determine which is the better model for the data, if x is the number of months that payments have been made.
a. y = 338,111.278x−0.676
b.
Monthly Payments | Balance Owed ($) |
12 | 47,243 |
24 | 44,136 |
48 | 36,693 |
72 | 27,241 |
96 | 15,239 |
108 | 8074 |
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