Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Ask your questions and receive precise answers from experienced professionals across different disciplines. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

A loan on an investment property closed on July 1st for $765,000 at 5.5% interest amortized over 25 years at $4,697.77 per month. Using a 360-day year, what would the principal amount be after the monthly payment was made August 1st

Sagot :

Answer:

$763,808.48

Step-by-step explanation:

765,000 - (4,697.77 - (765,000 * .055/12)) =

$763,808.48

We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.