60/ (30/100)
= 60* (100/30)
= 200
The final answer is 200~
Answer:
The balance be after he has made exactly half of his monthly payments is $56881.4.
Step-by-step explanation:
Given : Dean took out a 10-year loan for $40,000 at an APR of 4% compounded monthly.
To find : What will his balance be after he has made exactly half of his monthly payments?
Solution :
Formula of monthly payment ,
Discount factor
Where, Amount = $40,000
Rate r= 4% compounded monthly
Time = 10 years
Now, put all the values we get,
Half of the monthly payment is $807.345
Payment for 10 years is
The balance is $96881.4-$40000=$56881.4
Therefore, The balance be after he has made exactly half of his monthly payments is $56881.4.
Answer:
$9
Step-by-step explanation: