Answer:
(Interest rate/number of payments)*$170000= interest for the first month.
Interest amounts for all the months of repayment plus $170000=Total loan cost
Explanation:
Interest is the amount you pay for taking a loan from a bank on top of the original amount borrowed.
Factors affecting how much interest is paid are; the principal amount, the loan terms, repayment schedule, the repayment amount and the rate of interest.
The interest paid=(rate of interest/number of payments to make)*principal amount borrowed.
You divide the interest with number of payments done in a year where monthly are divided by 12.Multiplying it by loan balance in the first month which is your principal amount gives the interest rate to pay for that month.
You new loan balance will be= Principal -(repayment-interest)
Do this for the period the loan should take.
Add all the interest amount to original borrowed amount to get total cost of the loan after the period of time.
Answer:
See explaination
Explanation:
Please kindly check attachment for the step by step solution of the given problem.
Answer:
The young lady was his daughter.The shoemaker was frightened when he saw that she wants to sit near him and took his knife to frighten her and leave him alone to do his work
Explanation:
could uh name them since if i know any i would surely tryin help
Answer:
100 cm
Explanation:
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