Maurice took out a 25-year loan from his bank for $165,000 at an apr of 2.4%, compounded monthly. if his bank charges a prepayment fee of 6 months' interest on 80% of the balance, what prepayment fee would maurice be charged for paying off his loan 11 years early? a. $818.55 b. $740.77 c. $585.55 d. $731.94

First compute 25-11=14 years. 
Computing the yearly interest:


After 14 years, the amount paid by maurice s the following:

So there remains 

Compute 80% of \$167175:

2.4/6=0.4%
Compute 0.4% of $133740:


The correct answer is C. 

1. isolate the variable, in this case, d. subtract 35.5 on both sides of the equation.2. 52 subtracted by 35.5 is 16.53. therefore your answer would be d= 16.5this is the basics of pre algebra, isolating variable through adding, subtracting, multiplying, and dividing, if you have any other questions to ask just comment!

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