How much is utilized to decrease unpaid balance


If you borrow 500$ which you agree to repay in six equal monthly payments at 1% interest per month on unpaid balance, how much of every monthly payment is used for interest and how much is utilized to decrease unpaid balance?

Request for Solution File

Ask an Expert for Answer!!
Mathematics: How much is utilized to decrease unpaid balance
Reference No:- TGS0847141

Expected delivery within 24 Hours