Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 10, 2024

what is my principal reduction balance if my mortgage balance is $ 1 1 7 , 0 0 0 at a mortgage rate of 6

what is my principal reduction balance if my mortgage balance is $

117, 000

at a mortgage rate of

6.25 %

and I make my payment of

936

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the Principal Reduction Balance we first need to determine the amount applied toward pr... 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

Step: 3

Document Format ( 2 attachments)

6642619678836_981507.pdf

180 KBs PDF File

6642619678836_981507.docx

120 KBs Word File

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

Calculus

Authors: Ron Larson, Bruce H. Edwards

10th Edition

1285057090, 978-1285057095

More Books

Students also viewed these Finance questions

Question

★★★★★

Which of the following managers is likely to have the least amount of responsibilities for a company? a. The manager of a profit center b. The manager of an investment center c. The manager of a...

Answered: 1 week ago

Question

★★★★★

Total Company began operations in 2025 and entered into the following transactions during the year: 1. On May 1, Total Company sold common stock to owners for $200,000 cash. 2. 3. On June 1, Total...

Answered: 1 week ago

Question

★★★★★

A system is described by the matrix equations v = [0 2]x. Determine whether the system is controllable and observable. 3

Answered: 1 week ago

Question

★★★★★

In what circumstances have courts opted to use the substantial-factor test rather than the but-for test?

Answered: 1 week ago

Question

★★★★★

You interview a random sample of 50 adults. The results of the survey show that 48% of the adults said they were more likely to buy a product when there are free samples. At = 0.05, can you reject...

Answered: 1 week ago

Question

★★★★★

A research council wants to estimate the mean length of time (in minutes) the average U.S. adult spends watching television using digital video recorders (DVRs) each day. To determine this estimate,...

Answered: 1 week ago

Question

★★★★★

identify the major consequences of burnout, boredom and engagement;

Answered: 1 week ago

Question

★★★★★

You are a town council member in the seaside town of Pleasantville. Poor economic conditions and unusually severe weather conditions have affected tourism in the town, leading to significantly...

Answered: 1 week ago

Question

★★★★★

QUESTION 1 On 1 January 2015, Patin Bhd acquired 80% of the share capital of Sembilang Bhd in exchange for 4.7 million of its own ordinary shares at a fair value of RM2 per share and RM1 million in...

Answered: 1 week ago

Question

★★★★★

1. In 2022, McDonalds, Starbucks, Coca-Cola and Pepsi all closed operations in Russia in protest against Russia's invasion of Ukraine. Would a universalist or relativist be most likely to agree...

Answered: 1 week ago

Question

★★★★★

First Month of Operations The following transactions took place during the first month of operations of Mother Mollys Childcare. On May 1, Molly invests $50,000 to open Mother Mollys Childcare. On...

Answered: 1 week ago

Question

★★★★★

10. DJIA (LO4, CFA2) On May 31, 2022, the DJIA opened at 33,160.59. The divisor at that time was .15173. Suppose on this day the prices for 29 of the stocks remained unchanged and I stock increased...

Answered: 1 week ago

Question

★★★★★

Burdeno Appliances has two divisions, Sales and Financing. Sales is responsible for selling Burdenos inventory and maintaining inventory for future sale. Financing Division takes loan applications,...

Answered: 1 week ago

Question

★★★★★

Jason went to the post office and bought both 41-cent stamps and 26-cent postcards and spent $10.28. The number of stamps was 4 more than twice the number of postcards. How many of each did he buy?

Answered: 1 week ago

Question

★★★★★

Albany Division is considering the acquisition of a new asset that will cost $540,000 and have a cash flow of $184,000 per year for each of the four years of its life. Depreciation is computed on a...

Answered: 1 week ago

Question

★★★★★

On January 1, JKR Shop had $550,000 of beginning inventory at cost. In the first quarter of the year, it purchased $1,690,000 of merchandise, returned $24,100, and paid freight charges of $38,600 on...

Answered: 1 week ago

Question

★★★★★

The following data are supplied for the common stocks of Nikola Corporation, Tesla, Inc. and General Motors: Nikola Corp (NKLA) Tesla Inc. (TSLA) Close Price ($) Close Price ($) 67.53 30.00 40.81...

Answered: 1 week ago

Question

★★★★★

For the random sample of adult females in Data Set 1 from Appendix: Data Sets, the pulse rates have a standard deviation of 11.6.

Answered: 1 week ago

Question

★★★★★

Exercise 7 Forming Conclusions. In Exercises 912, refer to the exercise identified. Using only the rare event rule, make subjective estimates to determine whether results are likely, then state a...

Answered: 1 week ago

Question

★★★★★

Exercise 5 Forming Conclusions. In Exercises 912, refer to the exercise identified. Using only the rare event rule, make subjective estimates to determine whether results are likely, then state a...

Answered: 1 week ago

Previous Question Next Question