Isn't this a subtraction problem, not a multiplication problem?
If John starts out with 20 fish and lets 6 go, he still has (20-6), or 14, fish.
Given that
starting outstanding balance = $150000
rate of interest = 7.5% per year
so rate of interest for 1 month = (7.5/12)% = 0.635%
outstanding balance before 1st monthly payment = starting outstanding balance + 0.625% of interest on starting outstanding balance
= 150000 + (0.625 /100) × 150000
= 150000 + 937.5 = $150937.5
Reduction = outstanding balance after one month - first monthly payment
Reduction = $150937.5 - 1010.10 = 149927.40
so out of first payment of $1,010.10 , $937.5 goes towards interest and remaining $72.6 goes towards reduction of principal that is 150000 - $72.6 = 149927.40.
so correct option is B that is $149927.40.
Answer:
its 18
Step-by-step explanation:
Using simple interest, it is found that the maturity value of the loan is of 10,638.
<h3>Simple Interest</h3>
The amount of money after <em>t years </em>in simple interest is modeled by:

In which:
- A(0) is the initial amount.
- r is the interest rate, as a decimal.
In this problem:
- A loan of 10450 is taken, hence
.
- Interest rate of 8.25%, hence

- The loan will be repaid in 75 days, considering the time in years,

Then, the maturity value of the loan is:

![A\left(\frac{75}{365}\right) = 10450\left[1 + 0.0875\frac{75}{365}\right] = 10638](https://tex.z-dn.net/?f=A%5Cleft%28%5Cfrac%7B75%7D%7B365%7D%5Cright%29%20%3D%2010450%5Cleft%5B1%20%2B%200.0875%5Cfrac%7B75%7D%7B365%7D%5Cright%5D%20%3D%2010638)
The maturity value of the loan is of 10,638.
To learn more about simple interest, you can take a look at brainly.com/question/26207710