Discuss the similarities and differences in the graphs of future value A as a function of time t for loans of $4,000, $8,000, and $12,000, respectively, each at 7.5% compounded monthly for 8 years (see the figure).

Transcribed Image Text:

25,000 22,500 20,000 17,500 15,000 A= 12.000(1 + 0125)12, A8,00010.075 12 고 7,500 5,000 2.500 0 0.075 12 Time (years) Figure for 32