Question

Is my answer correct? :)

You take out an amortized loan for $6000 at an interest rate of 9% for four years. Your monthly payments are $149.31. If $45.00 of the first payment goes toward interest and $104.31 of the first payment goes toward the principal, what is the unpaid balance after the first payment?

is the answer 5895.69??

Answer 1

yes ;)

Answer 2

no.. wait

Answer 3

oh:/ what is it?

Answer 4

yeah.. its correct.. .its tricky lol !!

Answer 5

dont you just subtract the principal of the first payment from 6000?

Answer 6

oh thank you!

Answer 7

yep.. good work :)