ealexandernyc ealexandernyc

03-04-2018
Mathematics

contestada

What is the balance on an amortized loan of $110,000 after the first payment if the interest rate is 5.5% with a monthly P&I payment of $568?

Respuesta :

sqdancefan sqdancefan

06-04-2018

The interest due on the first payment is
.. I = Prt
.. I = 110,000*.055*(1/12)
.. I = 504.17

Then the decrease in principal resulting from the first payment is
.. 568.00 -504.17 = 63.83
and the new balance is
.. $110,000.00 -63.83 = $109,936.17

Answer Link

Otras preguntas

Need help with this question

Which statement describes the translation of . y= -1/2(x-2) ^2 from standard position? A) Moved up and to the right. B) Moved up and to the left. C) Moved down

What is the difference between cash crops and staple crops?

What's answer to -12n-19=77

An iceberg has a volume of 9470 ft3.What is the mass in kilograms of the iceberg? The density of ice in the iceberg is 0.92 g/cm3.

Should government's job be to actively protect citizens and their rights, or should the focus rather be to leave citizens largely as free and unbothered as poss

If a chemist performed an experiment in Spain

Why did the laser beam move when the magnet was placed near it

what was one result on the GI Bill

Why might it be very difficult to visualize the separation of cis- and trans-2-butene by tlc?