Mathematics, 20.04.2021 02:20 littleprinces
Suppose you borrow $40,000 at 13% APR for a 12-year term to be paid monthly. Your monthly payment is $450.00.
How much of your first payment goes toward interest?
Please show your work.
Interest allocation formula: r/# of pays in a year*principal= interst
Answers: 1
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Suppose you borrow $40,000 at 13% APR for a 12-year term to be paid monthly. Your monthly payment is...
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