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

A painter worked out that he will need 4, 2 tins of paint how many tins of paint must he buy

The table shows the values of a function f(x). What is the average rate of change of f(x) from −2 to 2? xf(x) −225 −124 021 116 29 30 Enter your answer in t

define literary text

Caesar bought a pair of work boots that were priced as $92.84. However, he had a 25% off coupon. How much did he pay for the boots? What percent of the original

(4ab to the power of 6) (-7a to the power of 2, b to the power of 3) =

What idea, achievement, or life event is associated with Plato? A. tutored Alexander the Great B. condemned to death by poison C. thought philosopher-kings s

Start time: 9:38 pm End time: 1:16 am

Determine the value of each expression. Expression (-5)-4= 6-(-2)= (-3)(-7)=

Which diagram shows a 90 degree angle?

A corn stalk grew 8 inches in the first month after it planted, since then it grow another 5 feet. What is the total height of the corn in feet and inches? Wha