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rodikova [14]
2 years ago
15

ginnie has an interest-only home equity loan at an annual interest rate of 7%. if her monthly payment is $1,458, how much is the

loan’s principal balance (rounded to the nearest dollar)?
Business
1 answer:
sergiy2304 [10]2 years ago
3 0

What is Loan Principal Balance
Principal is the initial sum of a loan in the context of borrowing; it can also refer to the balance still owed on a loan. The principal of a $50,000 mortgage, for instance, is $50,000. If you pay down $30,000, the remaining $20,000 is the primary balance. The principal of a loan determines how much interest you pay. The amount of your monthly loan installments is applied to the accrued interest first and only then to the principle when you make a payment. The only method to lower the amount of interest that accrues each month is to reduce the loan's principal.

Main content
$250,000
$1,458 x 12 months = 17,496
17,496 / 0.07 =$249,942

To learn more about Principal Balance
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Answer:

A) 26920

Explanation:

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The total number of outstanding stock = total number of issued stocks - stocks held in Treasury = 27,000 stocks - 80 stocks = 26,920 stocks

7 0
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If the average job performance rating of the new hires of a firm (PR) is 4.0 on a 5.0 scale, the percentage of new hires reachin
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The correct answer is c. 80%

Explanation:

How to calculate the quality of fill.

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Replacing,

Quality of fill= 0.8+0.7+0.9 /3= 0.8

8 0
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A market-oriented organization targets its products at "everybody" or "the average customer."
Doss [256]
I’d go with false ..
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