Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you have amortization schedule to pay back $1,000,

You have amortization schedule to pay back $1,000,000 with 3% for 48-payments (your first payment...

70.2K

Verified Solution

Question

Finance

You have amortization schedule to pay back $1,000,000 with 3% for 48-payments (your first payment is one period from today.) From the 1st to 47th payments, what is your principal amount?

answer choices: a. 961575 b. 961580 c. 961585 d. 961590

Please show your work!

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Use synthetic division to solve 2x 4x 35x 15 x 3 What is the quotien...

Algebra
Q

Sign reasoning causal reasoning 001 example reasoning comparison reasoning Question 16 It is recommended that...

Biology
Q

20 A bob of mass m is suspended by a light string of 20 length...

Physics
Q

Consider the circuit below E 48 0 V internal resistance is negligible R 102 C...

Physics
Q

Find the following indefinite integral 5x 5x sin x4 12 dx Ox cos x512x c...

Calculus
Q

Una empresa est considerando comprar una parcela de tierra que originalmente fue adquirida por el...

Accounting
Q

Why is it important to understand the Breakeven formula prior to getting into Cost Volume...

Accounting
Q

Hi, please help: Received $4,000 in payments from clients for services billed in a previous...

Accounting
Q

Industry standards suggest that 10% of new vehicles require warranty service within the first year....

Accounting
Q

Standard Costs, Decomposition of Budget Variances, Direct Materials and Direct Labor EZ Tees Corporation produces...

Accounting
Q

1. The Practice of Management written by A. O Peter F Drucker B. O Terry...

Accounting
Q

Brielle Phan, Attorney at Law purchased an office building with the accompanying land for $1,100,000....

Accounting