Question

Consumer math help??

April segal and her sister obtained a 25-year, $120,000 mortgage loan for their new home. The interest rste is 7.5% and the monthly payment is $886. How much of the irst payment is for peincipal.

I've looked on other sources and they all give me either $136
$175
$120
$186

Answer 1

let see

Answer 2

I am leaning tuard $136 as the answer.

Answer 3

: 25-year mortgage loan of $120,000.00 at 7.5
7.5% = 0.075
Monthly Payment = $886.00
Interest = $750.00
Principal = $886.00 - $750.00 = $136.00

Answer 4

Thank you!

Answer 5

welcome to help

Answer 6

Do u any more question?

Answer 7

I think i can take the rest on my own, it was just the one that stumped me.

Answer 8

well I'm happy to help u if u have any more question

Answer 9

well gotta go