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Mortgage Delinquencies The percentage of borrowers in the highest risk cat...

Mortgage Delinquencies The percentage of borrowers in the highest risk category who were delinquent on their payments decreased from 9.7% in 2001 to 4.3% in 2004 and then shot up to 10.3% in 2007. Model this percentage P as a piecewise-linear function of the time t in years since 2001, and use your model to estimate the percentage of delinquent borrowers in 2006.

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