The following table shows a portion of a five-year amortization schedule. A 5-year amortization schedule. Loan amount or princip
1 answer:
The percentage of the payments made were due to interest is 32.6 %. Then the correct option is B.
<h3>What is the percentage?</h3>The amount of something is expressed as if it is a part of the total which is a hundred. The ratio can be expressed as a fraction of 100. The word percent means per 100. It is represented by the symbol ‘%’.
The following table shows a portion of a five-year amortization schedule.
A 5-year amortization schedule.
Loan amount or principal: 10,900 dollars.
The interest rate on loan: 10. 95 percent.
The table will be
Month Payment Principal Interest Balance
15 236.72 155.87 80.85 8704.27
16 236.72 157.29 79.43 8546.98
17 236.72 158.73 77.99 8388.25
18 236.72 160.18 76.54 8228.07
19 236.72 161.64 75.08 80.66.43
20 236.72 163.11 73.61 7903.32
Total payment = 6 × 236.72 = $ 1420.32
Total interest = 80.85 + 79.43 + 77.99 + 76.56 + 75.08 + 73.61
Total interest = $ 463.38
Then the percentage will be
More about the percentage link is given below.
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Answer:
The required probability is 0.0855
Step-by-step explanation:
Consider the provided information.
The daily revenue has mean $7200 and standard deviation $1200.
The daily revenue totals for the next 30 days will be monitored.
As we know
Substitute in above formula.
From the standard normal table P( Z >1.3693) = 0.0855
Hence, the required probability is 0.0855