Real estate math, assignment help

Jan 18th, 2016
SoccerBoss
Category:
Mathematics
Price: $10 USD

Question description

Mr. Brown borrows $12,000 at 6% per annum interest and agrees to repay it at $100 P & I, with the payment first applied to interest and then to principal. Of the second month's payment, how much will be applied to the reduction of the principal? Assume the 360 day method for prorating interest. 

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(Top Tutor) Daniel C.
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