Drew just took out a loan for $1250 at an 8.4% apr, compounded monthly, to buy some new brakes for his car, and he has agreed to make monthly payments of $46.50 to pay off the loan. if he changes his monthly payment to $71.00, how much faster would he be able to pay off the loan?

Paying $46.50 monthly, a financial calculator says it will take 30 months to pay off the loan.

Paying $71.00 monthly, it will take 19 months to pay off the loan.

Making the higher payment, Drew can pay off his loan 11 months sooner.

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If you solve the amortization formula for n, the number of payments, you get

... n = -log(1-(Pi/A))/log(1+i)

where P is the principal value of the loan (1250), i is the monthly interest rate (.007), A is the monthly payment (46.50 or 71.00).

first option

a function is a relation in which an input is paired with exactly one output.

so, let's find the right answer.

in our first option, our inputs are january, february, and march. the outputs are 30, 28, and 25. each input has it's own output. this is correct!

our second option we know is incorrect, because ms. valverade has two outputs, dogs and cats. this is not a function.

our third option is incorrect as well. the yellow square has two ouputs, the square and the triangle.

lastly, in our fourth option, we see the number 7 two times with a different output. therefore, this is not a function.

remember: each input must be paired with only one output!

grab rope, tie a loop-de-loop, put it around ur neck, now jump while its tied to a high place. now your shoes are cool.

step-by-step explanation: