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

Sally can paint a room in 99 hours while it takes steve 44 hours to paint the same room. how long would it take them to paint the room if they worked together

In a jar, the ratio of jelly beans to lollipop is 5 to 2. If there are 120 jelly beans, how many lollipops are there

why were the streets of the Cretans wide

The literary device an author should use to tell a story or stories within a larger story is __________________.

Which is the most likely setting for a gothic novel

Which statement most accurately describes the satire that exists within chapter 5 of The Adventures of Huckleberry Finn? Twain is satirizing society’s greed by

What are some examples of foreshadowing does The Hunter and the Doves have

How did Constantinople and the Byzantine empire grow powerful ? A: it was isolated and have special treatment to its own traders B: the Byzantine empire had a

How to find the least common denominator of 3 fractions?

How many people experience anxiety during dialysis?