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A basic mortgage can be considered thusly: "Take a starting value, called the Principal. At the end of the month, add a percentage, called the Interest Rate, of the current value to itself, and then subtract a fixed amount, the Monthly Payment. Repeat until the value reaches zero." Express the given method as a Recurrence Relation in terms of the variables P, r, and M. Then solve the relation for the value as a function of the current month. Finally, solve for M, the Monthly payment. How does M change as the Principal increases? As the Rate increases? As the Number of months in the loan increases? As the Number of months approaches infinite? A basic mortgage can be considered thusly: "Take a starting value, called the Principal. At the end of the month, add a percentage, called the Interest Rate, of the current value to itself, and then subtract a fixed amount, the Monthly Payment. Repeat until the value reaches zero." Express the given method as a Recurrence Relation in terms of the variables P, r, and M. Then solve the relation for the value as a function of the current month. Finally, solve for M, the Monthly payment. How does M change as the Principal increases? As the Rate increases? As the Number of months in the loan increases? As the Number of months approaches infinite

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