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The monthly payment p on a mortgage varies directly with the amount borrowed B If...

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Algebra

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The monthly payment p on a mortgage varies directly with the amount borrowed B If the monthly payment on a 30 year mortgage is 6 95 for every 1000 borrow ind a linear equation that relates the monthly payment p to the amount borrowed B for a mortgage with the same terms Then find the monthly payment p when the amount borrowed is 245 000 What is the general formula describing the variation Use k for the constant of proportionality Op kB O p B O p kB k PE B

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