Since there was a down payment, the actual amount borrowed was
Amount borrowed, P=125000-25000=100000
interest, i = 4% (APR) = 0.04/12 per month (ASSUME compounded monthly)
Monthly payment = $577
To find the amortization portion of the first payment, we need the interest accumulated at the end of the first month (first payment)
= 100000*(0.04/12) = 333.33 (nearest cent)
Therefore amortization portion = $577-333.33 = 243.67 (to the nearest cent)
(by the way, if we need to know the amortization period, we have to use the amortization formula and estimate the number of months, n to give a monthly payment of 577 for the given principal. n can be calculated as 259.04 months, or over 21 years and 7 months).
2/3 - 3/4
x - 3
x= (2/3 * 3) / (3/4) = 2 * (4/3) = 8/3 = 2 and 2/3 of tablespoon of salt
4x -(9-3x) = 8x-1
4x -9 + 3x = 8x-1
7x-9 = 8x-1
-9 + 1 = 8x-7x
-8 = x
x = -8
Before you do anything, you convert 1/4 into 0.25. Then you start multiplying. If you don't understand email me at
[email protected] or go to Khan Academy .