Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
The diagram 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 at...
The diagram 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 at the following points. In each case, give the units and a meaningful interpretation of your answer.
(a) r = 8, and L = 4000
(b) r = 13, and L = 7000
Full version r available in the attachment