alaia895 alaia895

04-06-2024
Mathematics

Answered

Marlene took out a 25-year loan for $140,000 at 10.8% interest, compounded monthly. If her monthly payment on the loan is $1351.96, how much of her first payment went toward note reduction?

Verified Answer :

marianaxshaker marianaxshaker

04-06-2024

Answer:

Principal Reduction ≈ -$160.04

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