The total amount paid on a 35 year loan was $98,000. if the interest rate was 4.1% and compounded monthly, what was the principal? round your answer to the nearest cent.

The principal amount was $23,393.45

Step-by-step explanation:

The total amount paid on a 35 year loan was $98,000 at the rate of interest 4.1%

We will calculate Principal amount by this formula

Where A = amount (98,000)

           P = Principal amount (P)

           r = rate of interest 4.1% (0.041)

           n = number of compounding interest monthly (12)

           t = time (35 years)

98,000 = P(4.189386)

= 4.189386P = 98,000

P =

P = 23,392.4494 ≈ $23,392.45

The principal amount was $23,393.45

ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga ooga booga

step-by-step explanation:

answer: b.

step-by-step explanation:

the y coordinate for point b is 0, and answer b is the only one with that y coordinate.