Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Robert is making monthly payments of 8 4 0 $ for his home morgage. He noticed on his monthly statement that 8 1 4 $

Robert is making monthly payments of 840$ for his home morgage. He noticed on his monthly statement that 814$ is used to pay off his intrest charge .Only 26$ is used to pay off the principal .what percent of his monthly morgage payment is used to pay off the intrest charge .(tenth of a percent )

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

Identify cultural barriers to communication.

Answered: 1 week ago