Help in math

label Mathematics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Nov 3rd, 2015

Thank you for the opportunity to help you with your question!

a)We have the monthly payment as $554.80

Interest rate=5.75%,So interest per month =5.75/1200 =.0047916

Now the interest=.0047916*95000 =$455.21

Principal for the first month =Monthly payment-Interest=$554.80-$455.21=$99.59

End of principal month =$95000-$99.59=$94900.41

For the second month ,

Interest rate =.0047916

Interest payment=.0047916*94900.41 =$454.73

Principal amonut=Monthly payment-Interest=$554.80-$454.73 =$100.07

End of principal month=$94900.41-$100.07=$94800.34

So the table is


Please rate my answer so that I can help you further in the future.
Nov 3rd, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Nov 3rd, 2015
...
Nov 3rd, 2015
Aug 18th, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer