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Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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![**Foreclosures in the Aftermath of the Subprime Mortgage Crisis**
In 2010, following the subprime mortgage crisis from 2007 to 2009, the United States faced a surge in mortgage foreclosures, often improperly initiated by large financial institutions. Below is a table displaying the foreclosures in three U.S. states over three months in 2011.
---
### Monthly Foreclosures in 2011
| | **June** | **July** | **Aug.** |
|----------|----------|----------|----------|
| **California** | 54,100 | 56,200 | 59,400 |
| **Florida** | 23,800 | 22,400 | 23,600 |
| **Texas** | 9,300 | 10,600 | 10,100 |
---
### Firm's Foreclosure Handling
Your law firm managed:
- 20% of all foreclosures in each state during June,
- 40% of all foreclosures in July,
- 10% of all foreclosures in August 2011.
Use matrix multiplication to calculate the total number of foreclosures your firm managed in each state.
---
### Calculation Table
Fill in the total number of foreclosures handled by your firm for each state:
| | **Total** |
|----------|-----------|
| **California** | [Enter an exact number] |
| **Florida** | [Enter an exact number] |
| **Texas** | [Enter an exact number] |
Please ensure each entry is calculated correctly based on the percentages provided for each month.](https://content.bartleby.com/qna-images/question/e39455bd-182a-461b-848c-493460c1ab24/8ee6cba6-faf0-420a-91ac-7ebbd4169adc/lzxtdy_thumbnail.png)
Transcribed Image Text:**Foreclosures in the Aftermath of the Subprime Mortgage Crisis**
In 2010, following the subprime mortgage crisis from 2007 to 2009, the United States faced a surge in mortgage foreclosures, often improperly initiated by large financial institutions. Below is a table displaying the foreclosures in three U.S. states over three months in 2011.
---
### Monthly Foreclosures in 2011
| | **June** | **July** | **Aug.** |
|----------|----------|----------|----------|
| **California** | 54,100 | 56,200 | 59,400 |
| **Florida** | 23,800 | 22,400 | 23,600 |
| **Texas** | 9,300 | 10,600 | 10,100 |
---
### Firm's Foreclosure Handling
Your law firm managed:
- 20% of all foreclosures in each state during June,
- 40% of all foreclosures in July,
- 10% of all foreclosures in August 2011.
Use matrix multiplication to calculate the total number of foreclosures your firm managed in each state.
---
### Calculation Table
Fill in the total number of foreclosures handled by your firm for each state:
| | **Total** |
|----------|-----------|
| **California** | [Enter an exact number] |
| **Florida** | [Enter an exact number] |
| **Texas** | [Enter an exact number] |
Please ensure each entry is calculated correctly based on the percentages provided for each month.
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