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:
Step-by-step explanation:24,000
Answer:
nice question you asked me dear
Answer:
Step-by-step explanation:
add 12 and a number: 12 + c
subtract a number from 12: 12 - c
divide a number by 12: c : 12 or c/12
multiply 12 by a number: 12 · c = 12c
Answer:
38
Step-by-step explanation:
substitute the value of the variable into an equation, then simplify
