Charley Bateman obtained a loan of $2,400 to install a solar panel on his roof. The interest rate is 12% and the monthly payment

Question

2 years ago

10

Charley Bateman obtained a loan of $2,400 to install a solar panel on his roof. The interest rate is 12% and the monthly payment

is $113.04. How much of the first monthly payment covered principal?(Hint: Subtract the interest from the monthly payment. To find the interest, you can use the formula I = PRT and mental math.)

Mathematics

1 answer:

marin [14] · Answer 1 · 2022-06-27T23:53:15+03:00

marin [14]2 years ago

3 0

I think the principal is 2,377.18. Principal is what you wanted correct?