Estimate the decrease in the number of housing starts

Reference no: EM13200819

a study prepared for the National Association of Realtors estimates that the number of housing starts per year over the next 5 yr will be N(r)= 7/1+0.02r^2 million units, where r (percent) is the mortgage rate. Use differentials to estimate the decrease in the number of housing starts when the mortgage rate is increased from 12% to 12.5%.

Reference no: EM13200819

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