How do I solve this problem
1 answer:
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Answer:
Renata has a home loan for $150,000 at 7.5% interest for 30 years and her payment is $987.00 per month.
I have solved this using excel sheet that is attached here.
p = $150000
r = 7.5%
t =
EMI = $987
You can see the excel sheet, after first month principle is $ 149,950.50 and after second month it is $149,900.69 .