Homework Answers
Interest for the month of November = 880000 * 0.12/12 = 8800
Principal component in the monthly installment = 78187 - 8800 = 69387
Principal outstanding at the end of November = 880000 - 69387
= 810613
Interest to be charged for the month of December = Outstanding balance of November * Interest rate/12
= 810613 * 12%/12
= 8106.13
Principal component in monthly installment for December = 78187 - 8106.13 = 70080.87
Principal outstanding at the end of December = 810613 - 70080.87
= 740532.13
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please show work Question 1 of 13 Question 1 10 points Reliable Industries purchased a supply...
please show work
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please show work
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