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

how was louis and clark expedition event unfolding and what was going on

_____________ dominance the dominant allele doesn’t fully mask or hide the recessive. For example, a red carnation with a white carnation will produce a ____

Please help me 31) What is the BEST definition of the word ventured as it is used in the final sentence of paragraph 1? With high hope for the future, no pre

Please help as soon as possible

What Did Kublai Khan learn from the Chinese advisers he consulted?

the political cartoon below was created in the early 1900s which of the following action does this cartoon illustration

in the early 1800s tue federal government wanted american indians who did not assimilate to

15 points!!!! There is a line that includes the point 0,10 and has a slope of 7/4. what is it’s equation in slope intercept form

How do you determine whether a relationship represented as as graph is linear or nonlinear

Faust is written by? A. Adam SmithB. HitlerC. GoetheD. Karl Marx