Answer:
total payment = $563,760
Interest = $383,760
Principal part = $66
Step-by-step explanation:
(a) total payment:
n = 30 years = 360 months
monthly payment = $1,566
Total payment = $1,566 * 360 months = $563,760
(b) interest:
Total payment = $563,760
Principal = $180,000
Total payment = Principal + Interest
Interest = Total payment - Principal
Interest = $563,760 - $180,000 = $383,760
(c) part of first payment applied to the principal:
First payment = $1,566
Principal = $180,000
Interest rate = 10% yearly = 10% / 12 = 0.8333% = 0.008333 monthly
Monthly interest = Principal * Interest rate = $180,000 * 0.008333 = $1,500
Principal part = $1,566 - $1,500 = $66
Hope this helps!
0,-2
I don’t really have an explanation
Answer:
y = -2/3 x + 5/3
Step-by-step explanation:
y = mx + b
y = -2/3 x + b
1 = -2/3 × 1 + b
3/3 + 2/3 = b
b = 5/3
y = -2/3 x + 5/3
