A LOT OF POINTS!! Suppose you borrow $40,000 at 13% APR for a 12-year term to be paid monthly. Your monthly payment is $450.00. How much of your first payment goes toward interest? Make sure you show your

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asked Feb 23, 2022 170k views

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A LOT OF POINTS!!

Suppose you borrow $40,000 at 13% APR for a 12-year term to be paid monthly. Your monthly payment is $450.00.

How much of your first payment goes toward interest?

Make sure you show your work to earn full credit.

Mathematics
college

KiraMichiru asked

by KiraMichiru

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Answer:

You get $45,200 first with interest with the 5400 you made in 1 year that dedeucts

Explanation:

Shas answered Mar 1, 2022

by Shas

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