Check the picture below.
neverminding for a few seconds the volume of the cylinder, the percentage in the height used by the water will be the same as the percentage of its volume. We know the total amount or 100% of the height is 14, so what is 11 in percentage?
Step-by-step explanation:
So, the account is at 0 initially; after the 1st payment made to the statement, the only balance it'd have, is the first payment amount, so namely, what's the monthly amortized cost.
Ex.: the picture
So let's do the same!
<em>pymt:</em> 120,000 [0.049/12/1 - (1 + 0.049/12) -12 x 20]
Hope this helped!
