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Wittaler [7]
3 years ago
7

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?
Mathematics
1 answer:
marishachu [46]3 years ago
4 0
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
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AveGali [126]

Answer:

9 scarves.

Step-by-step explanation:

We have been given that the number N of scarves Ariana can make is inversely proportional to the area A of each scarf.

We know that equation of two inversely proportional quantities in in form y=\frac{k}{x}, where, k is constant of variation and y is inversely proportional to x.

Let us find constant of variation using our given information.

N=\frac{k}{A}

15=\frac{k}{3}

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Now, we will substitute A=5\text{ and }k=45 in our equation to solve for N.

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Answer:

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Step-by-step explanation:

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mrs_skeptik [129]

Answer:

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