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

Quand tu étais petit, le matin tu _______ à l'école et après tu _______ un film. étais, voyais est allé, a vu

How many pixels high is the image?

What does internal and external conflict mean?

Expand the given power using the Binomial Theorem. (10k – m)5

Find the distance between the pair of parallel lines. y = 2x + 4 y = 2x – 4 A) 4.01 B) 3.84 C) 3.58 D) 3.65

Simplify the expression and chose the correct answer.

If the user loads this graphic in a text-only browser how will the browser describe it?

what does the term khalifa refer to?

Which pair of words describes this system ? 3y=9x-6 2y-6x=4 A) inconsistent and independent B) consistent and dependent C) consistent and independent D) inc

the pH of carbonated drink is 3.0 what is the hydrogen ion concentration of the drink?