Given that
starting outstanding balance = $150000
rate of interest = 7.5% per year
so rate of interest for 1 month = (7.5/12)% = 0.635%
outstanding balance before 1st monthly payment = starting outstanding balance + 0.625% of interest on starting outstanding balance
= 150000 + (0.625 /100) × 150000
= 150000 + 937.5 = $150937.5
Reduction = outstanding balance after one month - first monthly payment
Reduction = $150937.5 - 1010.10 = 149927.40
so out of first payment of $1,010.10 , $937.5 goes towards interest and remaining $72.6 goes towards reduction of principal that is 150000 - $72.6 = 149927.40.
so correct option is B that is $149927.40.
Answer:
A = 112cm²
Step-by-step explanation:
Area of a triangle = (bh) / 2
b = base length and h = height
The triangle shown has a given base length of 14cm and a given height of 16cm
Hence area = ( 16 * 14 ) / 2
16 * 14 = 224
224 / 2 = 112
A = 112cm²
Download photo math and put the problem into it it will solve it
Answer:
$ 2,600 was invested at 4% and $ 3,600 was invested at 9%.
Step-by-step explanation:
Given that in investing $ 6,200 of a couple's money, a financial planner put some of it into a savings account paying 4% annual simple interest, and the rest was invested in a riskier mini-mall development plan paying 9% annual simple interest, and the combined interest earned for the first year was $ 428, to determine how much money was invested at each rate, the following calculation must be performed:
3000 x 0.04 + 3200 x 0.09 = 408
2500 x 0.04 + 3700 x 0.09 = 433
2600 x 0.04 + 3600 x 0.09 = 428
Therefore, $ 2,600 was invested at 4% and $ 3,600 was invested at 9%.
