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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 not…

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 not…
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5 votes
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?
O A. $1260.00
O B. $1351.96
O c. $146.01
O D. 591.96

User Martin Solac
by
7.7k points

2 Answers

4 votes

Answer:

91.96

Explanation:

User Eric Rowell
by
8.3k points
2 votes

Answer: $91. 96

Explanation:

See image below

User Atharv Thakur
by
8.6k points
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