Chico Alvarez obtained a loan of $2400 to repair the roof on his house. The interest rate is 12% APR and monthly payment is $113.04. What is the amount that will be paid to his principal on his first payment?

if you do it this way

2400 x .12 = 288  

and then do 288 divided by 12 = 24

making your answer $24

Step-by-step explanation:

what are you trying to solve here

step-by-step explanation:

you didn't post any answer choices, so its not 100% clear what your teacher is looking for

however, log(15/7) is equivalent to log(15) - log(7)

i'm using the rule log(x/y) = log(x) - log(y)