Question: Use the diagram from Problem 20 in Section 8.1 to estimate H T (T ,w) for T = 10, 20, 30 and w = 0.1,

Use the diagram from Problem 20 in Section 8.1 to estimate H_T (T ,w) for T = 10, 20, 30 and w = 0.1, 0.2, 0.3.What is the practical meaning of these partial derivatives?

Data from in problem 20

Figure 8.47 shows a contour diagram for the monthly payment P as

a function of the interest rate, r%, and the amount, L, of

Figure 8.47 shows a contour diagram for the monthly payment P as a function of the interest rate, r%, and the amount, L, of a 5-year loan. Estimate P/or and ap/aL at the point where r = 8 and L = 5000. Give the units and the financial meaning of your answers.

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