Answer:
That is known as a Vertex
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The graph has a y-intercept of 2 and is shifted to the right 6 from the parent function.
The parent function, y=√x, looks like a parabola laid on its side. We generally only consider the positive square root unless told otherwise. Since we have √(x-6) instead of just √x, the graph is shifted to the right 6 units. The +2 at the end of the equation shifts the graph up 2.
Answer:
-19.59
Step-by-step explanation:
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Present value of annuity PV = P(1 - (1 + r/t)^-nt) / (r/t)
where: p is the monthly payment, r is the APR = 14.12% = 0.1412, t is the number of payments in one year = 12, n is the number of years = 2.
1,120.87 = P(1 - (1 + 0.1412/12)^(-2 x 12)) / (0.1412 / 12)
0.1412(1120.87) = 12P(1 - (1 + 0.1412/12)^-24)
P = 0.1412(1120.87) / 12(1 - (1 + 0.1412/12)^-24) = $53.88
Minimum monthly payment = 3.15% of 1120.87(1 + 0.1412/12) = 0.0315 x 1120.87(1 + 0.1412/12) = $35.72
Therefore, his first payment will be greater than the minimum payment by 53.88 - 35.72 = $18.16
