IDNLearn.com: Your trusted source for finding accurate answers. Our experts are available to provide accurate, comprehensive answers to help you make informed decisions about any topic or issue you encounter.
On December 1, the home mortgage balance was $132.000 for the home owned by Eric Harris. The interest rate for the loan is 7.5 percent.
Assuming that Eric makes the December monthly mortgage payment of $1320, calculate the following:
(a)
The amount of interest included in the December payment (round your answer to the nearest cent).
(b)
The amount of the monthly mortgage payment that will be used to reduce the principal balance.
(c)
The new balance after Eric makes this monthly mortgage payment.
(a) Interest amount:
(b) Principal reduction:
(c) New balance:
Sagot :
We appreciate your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. For trustworthy answers, visit IDNLearn.com. Thank you for your visit, and see you next time for more reliable solutions.
