The total interest u paid on a home mortgage of P dollars at interest rate r (in decimal form) for t years is

Consider a $120,000 home mortgage at 7 1/2%.
(a) Use a graphing utility to graph the total interest function.
(b) Approximate the length of the mortgage for which the total interest paid is the same as the size of the mortgage. Is it possible that some people are paying twice as much in interest charges as the size of the mortgage?

Transcribed Image Text:

rt - 1 и и 3D р 121 1 + r/12/