## Related questions with answers

Question

Suppose C(r) is the total cost of paying off a car loan borrowed at an annual interest rate of r%. What are the units of C'(r)? What is the practical meaning of C'(r)? What is its sign?

Solution

VerifiedStep 1

1 of 2$C(r)$ is the total cost of paying off a car loan borrowed at an annual interest rate of $r$ percent.

Units of $C'(r)$ are dollars per percent.

The practical meaning of $C'(r)$ depicts the additional amount needed to pay off the loan when the interest rate is increased by 1 percent.

The sign of $C'(r)$ is positive because increasing the interest rate will increase the amount that it costs to pay off the loan.

## Create a free account to view solutions

By signing up, you accept Quizlet's Terms of Service and Privacy Policy

## Create a free account to view solutions

By signing up, you accept Quizlet's Terms of Service and Privacy Policy

## Recommended textbook solutions

#### Thomas' Calculus

14th Edition•ISBN: 9780134438986 (11 more)Christopher E Heil, Joel R. Hass, Maurice D. Weir10,142 solutions

#### Calculus: Single and Multivariable

6th Edition•ISBN: 9780470888612 (1 more)Andrew M. Gleason, Deborah Hughes-Hallett, William G. McCallum11,813 solutions

#### Calculus: Early Transcendentals

8th Edition•ISBN: 9781285741550 (4 more)James Stewart11,085 solutions

#### Calculus: Early Transcendentals

9th Edition•ISBN: 9781337613927 (2 more)Daniel K. Clegg, James Stewart, Saleem Watson11,049 solutions

## More related questions

1/4

1/7