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ID: 343-534-6746
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Answer the following questions using wolframalpha as demonstrated above. be sure to include all graphs you generate.a $120,000 home mortgage for 30 years at 71% has a monthly payment of $839.06. part of the monthly payment is paid toward the interest charge on the unpaid balance, and the remainder of the payment is used to reduce the principal. the amount that is paid toward the interest is: (see attached)and the amount that is paid toward the reduction of the principal is: (see attached 2)in these formulas, p is the size of the mortgage, r is the interest rate, m is the monthly payment, and t is the time (in years). note that t is a variable, while the other values represent constants.a) use wolframalpha to graph each function in the same coordinate plane (like the demonstration).b) in the early years of the mortgage, is the larger part of the monthly payment paid toward the interest or the principal? approximate the time when the monthly payment is evenly divided between interest and principal reduction.c) repeat parts a and b for a repayment period of 20 years (m = $966.71). compare your results to the ones you obtained in a and b.