Question

Please answer this question.

Answer 1

B) 14%

Explanation:

principal = 220000

First two years 10% paid.

.10 x 220000 = 22000

220000-22000 = 198000

x = percent

x =
`(New -Old)/(Old)`

x =
`(170000-198000)/(198000)`

x = -.1414

Round to .14

14% is the difference in amounts.

The principal (198000) will need to be reduced 14% to equal 170000