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Foreclosure Crisis Starting in 2010, on the heels of the 2007– 2009 subprime mortgage crisis, the United States saw an epidemic of mortgage foreclosures, often initiated improperly by large financial institutions. Exercises 65–70 are based on the following table, which shows the numbers of foreclosures in three states during three months of 2011:13
June | July | Aug. | |
California | 54,100 | 56,200 | 59,400 |
Florida | 23,800 | 22,400 | 23,600 |
Texas | 9,300 | 10,600 | 10,100 |
Each month, your law firm handled 10% of all foreclosures in California, 5% of all foreclosures in Florida, and 20% of all foreclosures in Texas. Use matrix multiplication to compute the total number of foreclosures handled by your firm in each of the months shown.
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Chapter 4 Solutions
Bundle: Finite Mathematics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Waner/Costenoble's Finite Mathematics, 7th Edition, Single-Term
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