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

It is 143 miles from Columbus to Cleveland and 107 miles from Columbus to Cincinnati. How much further is it from Columbus to Cleveland than Columbus to Cincinn

What does the underlined conjunction connect in the sentence? Daisies and daylilies grow in Rosa's flower garden. A. direct objects B. subjects C. sentences

which tragic element refers to the integration of the chorus into the plot?

3. Using the Pythagorean Theorem, find the length of a leg of a right triangle if the other leg 8ft long and the hypotenuse is 10ft long

what does and 6 7/12 yards x 3 1/6 = ?

true are false an association of all workers in given industry is called trade union

How do group IQ tests administered to students create a self-fulfilling prophecy?

What did the U.S. Peace treaty with spain say?

What is the period of a sound wave having frequency of 340 hertz

how much would a 185-pound astronaut weigh on the moon use an equation to explain how you know