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

The Europeans referred to China as the Far East. The Chinese referred to China as the Middle Kingdom. What do these terms illustrate? (1) The names of places re

Which enzyme would most likely function in the stomach? Support your answer.

What is the most recognized cause of the American Civil War?

What is the unit of air pressure most commonly used in weather forecasting? A. isobar B. millibar C. atmosphere D. millimeter of mercury

A ship is 130 m away from the center of a barrier that measures 180 m from end to end. what is the minimum angle that the boat must be turned to avoid hitting t

Find Each Product Simplify ( x ^ 2 + 9 ) ( x + 3 ) ( x - 3) HELP ME PLEASE!

Calculate the height of a 5 foot 10 inch man in m, mm, and cm.

Which two factors have the most influence on the development of landscape features? (1) bedrock age and weathering rates (2) bedrock structure and climate varia

How does Josie change over the course of the story? Use text evidence to support your answer.

28 Which compound yields H + ions as the only positive ions in an aqueous solution? (1) KOH (3) CH3OH(2) NaOH (4) CH3COOH