$40K 25-yr mortgage, 12.5% annual int., quota of $436

flora

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I have a mortgage of $40.000. The term of duration is 25 years, interest rate of annual 12.5% being accumulated to the balance of debt nonamortized. The value of each quota is of $ 436. With these data they ask to me to calculate the paid amount of the interest during the three first months.
is this the correct answer?

$40k over 25 years = 40/25= (8/5)k
interest in addition to what you owe = (8/5)k*1.125=1.8k
per month = 1.8k pa/12 months = $150 monthly.
first 3 months = $150*3=$450
si la cuota es de 436 y el interes de 12, 5

solo tienes que quitar el valor de los intereses al total=

436-12,5%

$54, 5
 
flora said:
I have a mortgage of $40.000. The term of duration is 25 years, interest rate of annual 12.5% being accumulated to the balance of debt nonamortized. The value of each quota is of $ 436. With these data they ask to me to calculate the paid amount of the interest during the three first months.

Please show us your work/thoughts, indicating exactly where you are stuck so that we know where to begin to help you.
 
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