Frederick took out a 20-year loan for $70,000 at an APR of 2.2%, compounded monthly. Approximately how much would he save if he paid it off 9 years early?

$38,645.7208

Step-by-step explanation:

Given that

Principal = $70,000

Time = 20 years

Rate = 2.2%

The calculation of the amount of saving is shown below:-

A = Future amount

P = Principal amount  

0.001833333

t = 20 years which is equals to 240 months

= $108,645.7208

And, the loan amount for 20 years is $70,000

So,

He would save by paying off 9 years early is

= $108,645.7208  - $70,000

= $38,645.7208

55% are girls and 45% are boys : ) hope this

step-by-step explanation:

26 is 33.33% of 78

step-by-step explanation:

26 is what percent of 78?

26 is p% of 78

equation: y = p% * x

solving our equation for p

p% = y/x

p% = 26/78

p = 0.3333

convert decimal to percent:

p% = 0.3333 * 100 = 33.33%