Answer:
Enjoy, Glad i could help
Step-by-step explanation:
Answer:
Principal element is $475.43
Interest payment is $390
Step-by-step explanation:
The amount of interest paid in month one is 4%*$117,000*1/12=$390
The interest is calculated based on the annual interest rate of 4% apportioned to reflect one month interest by multiplying by 1/12
The principal element of monthly payment is the monthly payment minus interest.
principal paid in month one=$865.43-$390=$475.43
Ultimately,$475.43 goes toward reducing her loan balance while the $390 is interest on loan
Answer:
<h3>
a = (2mz - 3m)/4</h3>
Step-by-step explanation:
2z = 4a/m +3
-3 -3
2z - 3 = 4a/m
×m ×m
(2z -3)m = 4a
÷4 ÷4
[(2z -3)m]/4 = a
a = (2mz - 3m)/4
