Harry took out a 25 year loan for 160 000 at 9 6 interest compounded...

50.1K

Verified Solution

Question

Geometry

image

Harry took out a 25 year loan for 160 000 at 9 6 interest compounded monthly If his monthly payment on the loan is 1409 05 how much of his first payment went toward note reduction OA 129 05 OB 1280 00 OC 1409 05 OD 135 27

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students