Suppose the term of a mortgage t (in years) can be approximated by
where x is the monthly payment in dollars. Use the model to approximate the term of a home mortgage for which the monthly payment is $1,311.20. What is the total amount paid? Round your answer to the nearest cent. Your answer may be slightly different depending on the number of digits your technology uses in computations.
?
A. $65,559.94
B. $15,734.39
C. $393,359.64
D. $786,719.27
E. $1,311.20
Answer: D
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