A mortgage is paid off in 30 years with a lump sum payment of $124,000. It had a 2% interest rate that compounded monthly. What was the principal? Round your answer to the nearest cent and do not include the dollar sign. Do not round at any other point in the solving process; only round your final answer.

step-by-step explanation:

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b. 6

step-by-step explanation:

we are given the table representing an exponential function.

we can see from the table that, as x is increasing, the value of y is increasing in the power of 6.

i.e. the following relation is obtained,

x = 1, y = 6

x = 2, y = 36 =

x = 3, y = 216 =

x = 4, y = 1296 =

x = 5, y = 7776 =

so, the geometric series obtained is .

thus, the common ratio is given by = = 6.

hence, the common ratio is 6.

hreryryrranswer:

step-by-step explanation: