You would need 48 fifty dollar bills to make up 2,400 and you would need 5 five dollar bills to make up the 25, so then you’d have your answer which is $2,425.
Ah so your confused? I got you fam let me explain. So it would be best to start in the middle then graph the coordinates, move those coordinates 6 right then 5 up for the first one. Then do the same thing for the other but move them 8 left and down once.
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
$1.50
I hope this is what you need
