When a couple purchases a home, one of the first questions they face deals with the relationship between the amount borrowed and the monthly payment. In particular, if a bank offers 25-year loans at 7% interest, then the data in the following table would apply.

Assuming that the monthly payment P is a function of the amount borrowed A (in thousands) and is denoted by P = f(A), answer the following.

(a) Find f(140).

(b) Find A if f(A) = 1272.20

(c) Write a sentence that explains the meaning of f(160) = 1130.85.

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Amount Borrowed Monthly Payment $100,000 $706.78 120,000 848.14 989.49 140,000 160,000 1130.85 180,000 1272.20