Answer:
Principal element is $475.43
Interest payment is $390
Step-by-step explanation:
The amount of interest paid in month one is 4%*$117,000*1/12=$390
The interest is calculated based on the annual interest rate of 4% apportioned to reflect one month interest by multiplying by 1/12
The principal element of monthly payment is the monthly payment minus interest.
principal paid in month one=$865.43-$390=$475.43
Ultimately,$475.43 goes toward reducing her loan balance while the $390 is interest on loan
5n + (-6) = -2
add 6 to -2
5n = -2 + 6
5n = 4
divide both sides by 5
n = 4/5
Answer:
$32000
Step-by-step explanation:
Let last years salary was $x
Therefore,
x + 3% of x = $32960
x + 0.03x = $32960
1.03x=$32960
x = 32960/1.03
x = $32,000
So, last year's salary was $32000.
2/3=14/21 and 5/7=15/21 so 14/21+15/21=29/21 or 1 and 8/21
