Answer:
A. $3246.74
Step-by-step explanation:
The monthly payment can be found from the amortization formula.
A = P(r/n)/(1 -(1 +r/n)^(-nt))
where P is the principal amount, r is the annual rate compounded n times per year for t years.
Filling in the values, we compute the monthly payment to be ...
A = $170,000(.072/12)/(1 -(1 +.072/12)^(-12·30)) = $1153.94
__
The remaining balance after t years will be ...
B = P(1 +r/n)^(nt) -A((1 +r/n)^(nt) -1)/(r/n)
For the given initial principal and the computed payment, after 18 years, the balance will be ...
B = $170000(1 +.072/12)^(12·18) -$1153.94((1 +.072/12)^(12·18) -1)/(.072/12)
B = $111,054.71
The prepayment penalty appears to be ...
(r/2)(0.80B) = (.072/2)(0.80)($111,054.71) = $3,198.38
The closest listed answer choice is ...
A. $3246.74
_____
Please ask your teacher how to get the answer, since none of the offered choices appear to be correct.
where y1 and x1 are your points from the coordinate and m is the slope. So yours would look like this: y-(-4)=-3(x-(-1)) or y + 4 = -3(x + 1)