Lucy Garcia took out a loan for $40,000 at 10 percent interest for 10 years. Her monthly payments are $528. 60. She made payment
1 answer:
The amount saved due to early payment is $19,242
Data;
- Monthly payment = 528.60
- Number of payment = 10 years * 12 = 120
- Total payment if not prepaid = 528.60 * 120 = $63,432
The total payment for the whole term is the equal to the product of monthly payment and the number of payment as calculated above.
The total amount in cash in case of prepayment is
The number of payment completed = 12
Balance = $37,546.36
Penalty for prepayment = 300
The amount of prepayment is
The amount saved due to early payment is
The amount saved due to early payment is $19,242
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Answer: A
Step-by-step explanation:
First, the problem is g(f(x)). You would plug in f(x) wherever you see an x in g(x). To find the domain, you take the bottom function, and set it equal to 0.
When you solve that, you get x=2. You know your domain is x≥2, but there is as asymptote at x=11. That means the graph never reaches x=11, but gets very close. You find that by setting the entire equation equal to 0 and solve from there.