Aphrodite took out a 30-year loan from her bank for $170,000 at an APR of 7.2%, compounded monthly. If her bank charges a prepayment fee of 6
months' interest on 80% of the balance, what prepaymeant fee would
Aphrodite be charged for paying off her loan 12 years early?
A. $3246.74
B. $4078.20
C. $4895.83
D. $4921.46

  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.

when rotating a figure 180 degrees, imagine that you are able to take the figure and turn it clockwise or counterclockwise around a center point. to rotate a figure 180 degrees, you will need to apply the rule (x, y) → (-x, -y). start by using a coordinate grid with coordinates for each vertex of the figure. the center point of the coordinate grid is located at (0, 0), which is what you will rotate the figure around. write down the original coordinates of the shape you are going to rotate. then, apply the rule. for example, coordinate (1, 2) becomes (-1, -2). another example would be, coordinate (-4, -2) becoming (4, 2). after you change each original coordinate to the rotated coordinate, you will draw your new figure.

step-by-step explanation: