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The following table shows a portion of a four-year amortization schedule. A 4-year amortization schedule. The loan amount or principal is 19,900 dollars. At 25 months, the balance of the loan is 10,356 dollars and 3 cents. After twenty-five payments, how much of the principal has been paid off? a. $2,669. 28 b. $10,353. 25 c. $9,543. 97 d. $12,213. 25.

Respuesta :

From the portion of a four-year amortization schedule the principal has been paid off after twenty-five payments, is $9543.97.

What is loan amount?

Loan amount is the amount or sum of money, which is borrowed by one at some rate of interest for a period of time.

Here, the principal has to be calculated after twenty-five payments. At 25 months, the balance of the loan is 10,356 dollars and 3 cents. It can be written as $10356.03.

As, the loan amount or principal is 19,900 dollars. This balance is the total amount of the loan. If we substrate the remaining loan amount from the total amount of loan, the result will be the paid loan amount.

Suppose the paid loan amount is P. Therefore,

[tex]P=19900-10356.03\\P=9543.97[/tex]

Thus, from the portion of a four-year amortization schedule the principal has been paid off after twenty-five payments, is $9543.97.

Learn more about the loan amount here;

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