Answer:
a) $1199.10
b) interest: $1000.00
c) principal: $199.10
Step-by-step explanation:
a) The monthly payment can be found using a financial calculator or using the amortization formula:
A = P(r/12)/(1 -(1+r/12)^(-12t))
for Principal P, annual interest rate r, and time t years.
Filling in the given values and doing the arithmetic yields ...
A = $200,000(0.06/12)/(1 -(1+0.06/12)^(-12·30)) = 1000/(1 -1.005^-360)
A ≈ $1199.10
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b) The first month's interest is the monthly interest rate times the initial loan balance:
= (0.06/12)·(200,000) = 1000.00 . . . . dollars in interest
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c) The first month's payment to principal is the difference between the payment amount and the amount to interest:
$1199.10 -1000 = $199.10 . . . . . first month's payment on principal
Answer:
x = 6 x = -7
Step-by-step explanation:
Subtract 12 from each side:
x^2 + x - 30 - 12 = 12 - 12
Simplify:
x^2 + x - 42 = 0
Solve with quadratic formula using both +/- after the first -1:
x = 
Simplify:
x = 6
x = -7
Final answers
1)b
2)b
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