Answer: $779,500
Explanation:
The Principal and Interest payment (P&L) as the name implies, include both the interest and the principal.
The interest is calculated based on the loan balance(loan still owed) and the rest will go towards settling the loan.
Interest = 5%/ 12 months * 780,000
= $3,250
Principal = 3,750 - 3,250
= $500
Balance on loan:
= 780,000 - 500
= $779,500
The balance on an amortized loan of $780,000 is $779,470.
Balance on amortized loanFirst step
Interest = 5%/ 12 months × $780,000
Interest= $3,250
Second step
Principal =$3,780 - $3,250
Principal= $530
Third step
Balance on loan amortized= 780,000 - $530
Balance on loan amortized=$779,470
Inconclusion the balance on an amortized loan of $780,000 is $779,470.
Learn more about balance on amortized loan here:https://brainly.com/question/24576997
A builder was building a fence. In the morning, he worked for 2/5 of an hour. In the afternoon, he worked for 9/10 of an hour. How many times as long as in the morning did he work in the afternoon?
Write a division equation to represent this situation, then answer the question. Show your reasoning. If you get stuck, you can draw a diagram.
Answer: 2/9 times
Explanation:
This is because 2/5 divided by 9/10 = 10/45 which if we simplify it we get 2/9.
A model release can be either oral or written down.
True
False