A home mortgage loan closed on July 1 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 1?

$763,808.48

Explanation:

The computation of the principal amount after considering the monthly payment is shown below:

But before that first we have to determine the annual interest i.e

= $765,000 × 5.5%

= $42075

Now the one month interest rate which is

= $42,075 ÷ 12 months

= $3506.25

And, the given interest rate per month is $4,697.77

So, now the principal amount is

= $765,000 - ($4,697.77 - $3506.25)

= $765,000 - $1,191.52

= $763,808.48

b. a single paragraph.

a paragraph is a series of sentences that are organized and make sense, and are all related to a single topic . almost every piece of writing you do that is longer than a few sentences should be organized into paragraphs. this is because paragraphs show a reader where the subdivisions of an essay begin and end, and thus the reader see the organization of the essay into subjects in order to be able to understand its main points.

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20