Camp Elim obtains a $125,000, 6%, five-year loan for a new camp bus on January 1, 2021. If the monthly payment is $2,416.60, by how much will the carrying value decrease when the first payment is made on January 31, 2021?
1 answer:
Answer:
The loan amount is = $125000
Rate is = 6%
Term of the loan = 5 years or 60 months
EMI is = $2416.60
Now I have solved this using reducing method ans excel sheet. Please find attached the sheet.
So we can see that after 1st payment, the principle is left to $ 123,208.40
The value decreases by :
You might be interested in
Answer:
y > 0 best describes the range of the function f(x) = 2(3)x. A function whose value is a constant raised to the power of the argument, especially the function where the constant is e
Step-by-step explanation:
La (4) (2) ce semn e intre ele?
Answer:
Answer:
its 6 7/8
Step-by-step explanation:
Answer:
8.2 m
Step-by-step explanation:
Divide 37.72 (area) by 4.6 (height) to find the base. H x b = A
