Raymond took out a 25-year loan for $135,000 at an apr of 3.6% compounded monthly. if his bank charges a prepayment fee of 6 months' interest on 80 % of the balance, what prepayment fee would he be charged for paying off the loan 5 years early? a. 683.10b 546.08c. 695.49d. 543.46

  D.  543.46

Step-by-step explanation:

The formula for the remaining balance on the loan is ...

  A = P(1 +r)^n +p((1 -(1 +r)^n)/r)

where P is the principal, p is the monthly payment, r is the monthly interest rate, and n is the number of months.

We have P=135,000, p = TBD, r = 3.6%/12 = .003, n = 20×12 = 240.

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The monthly payment is given by the same formula by setting A=0. In this case, n is 25 years, or 300 payments. Solving for p, we get, ...

  p = Pr(1 +r)^n/((1 +r)^n -1) = Pr/(1 -(1 +r)^-n)

So, the monthly payment is ...

  p = 135,000×0.003/(1 -1.003^-300) = 683.10

Using this value in the formula for remaining balance, we get ...

  A = 135000(1.003^240) +683.10((1 -1.003^240)/0.003) = 37,459.20

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80% of this balance is 29,967.36. The answer choices only make sense if we assume the interest penalty is equivalent to the interest being compounded monthly:

  $29,967.36 × (1.003^6 -1) = $543.47

The closest match among answer choices is ...

  D.  543.46

idk what the heck he answer is, i’m just putting this here so i finish my account

chemists are often responsible for designing a chemical reaction and analyzing the products obtained from it. one significant part of designing a chemical reaction is determining the amount of each reactant that is needed and the amount of each product that will be produced. in order to do so, chemists use stoichiometry, the quantitative relationships between reactants and products.