i need to understand how to adjust additional payments, i already know the balnce after first payment

Question i have trouble with partial payments, what is the adjusted balance after the second payment? Jones of Boston DD 540.000 na made iton payment of S1000 Ah days Expert answer A Anonymous Ans: Balance Prior To First Payment: Principal $ $40,000 Interest accrued for 60 days ( $40000 $666.67 10%* 60/360) Balance Prior to First Payment $ 40,666.67 Balance After First Payment: = $ 40,666.67 - $ 6000( first payment) = $ 34,666.67 Was this answer helpful? OP 1