A debt of $100,000 is amortized at 6%, compounded monthly, over 25 years with 300 monthly payments of $644.30 each. The figure below includes two graphs: one shows the total amount paid (in monthly payments) as a function of time (in months), and the other shows the amount paid toward the principal of the debt as a function of time.
?

?
Which of the answers represents how much interest will be paid on the debt after 150 months?
?
A. , where A is the area between the two curves.
B. The area between the two curves.
C. The length of the vertical line segment from the lower curve to the upper curve at .
D. The length of the upper graph from the origin to the point with x-coordinate 150.
E. The area below the lower curve.
Answer: C
You might also like to view...
Use the following definitions to determine if the statement is true or false. N = {x : x is a natural number}I = {x : x is an integer}R = {x : x is a real number}W = {x : x is a whole number}Q = {x : x is a rational number}I is a proper subset of N, W, Q, and R.
A. True B. False
Subtract in the indicated base.FE116 - 1216
A. FDF16 B. FCF16 C. EFD16 D. FDC16
Even with most of the problem missing, it is possible to tell whether a suggested answer is reasonable. Determine whether the answer given is reasonable. If it is unreasonable, move the decimal point or insert a decimal point to make the answer reasonable.How much does Anne's father weigh?19.1 pounds
A. Unreasonable, should be 1910 pounds B. Unreasonable, should be 1.91 pounds C. Reasonable D. Unreasonable, should be 191 pounds
Solve the problem.Gretta wants to retire in 13 years. At that time she wants to be able to withdraw $12,500 at the end of each 6 months for 14 years. Assume that money can be deposited at 6% per year compounded semiannually. What exact amount will Gretta need in 13 years?
A. $229,087.88 B. $239,855.63 C. $598,782.00 D. $234,551.37