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).
Answer:
D.) 
×
Step-by-step explanation:
Move the decimal so there is one non-zero digit to the left of the decimal point. The number of decimal places you move will be the exponent on the
10
. If the decimal is being moved to the right, the exponent will be negative. If the decimal is being moved to the left, the exponent will be positive.
Since we moved to right 5 places, the exponent is -5.
All you have to do is just multiply 3•6•4 = 72
It is Denominator, and I'm not sure about the other one
