Camp elim obtains a $125,000, 6%, five-year loan for a new camp bus on january 1, 2021. if the monthly payment is $2,416.60, by how much will the carrying value decrease when the first payment is made on january 31, 2021?

The loan amount is = $125000

Rate is = 6%

Term of the loan = 5 years or 60 months

EMI is = $2416.60

Now I have solved this using reducing method ans excel sheet. Please find attached the sheet.

So we can see that after 1st payment, the principle is left to $ 123,208.40  

The value decreases by :

area = length x width

length = 2 x width

32 = 2 x width x width

32 = 2 x width^2

36 = width ^2  

width = 6

length = 12

area is 32

perimeter = 2 x 12 + 2 x 6 = 24 + 12 = 36

step-by-step explanation:

0.16 or 16%

step-by-step explanation:

lets take a coin for example.

if you toss it twice, it has a 1/4 chance of landing on heads both times because 1/2 * 1/2 is 1/4.

with the cards, the chance of picking dog is 0.4. having two people pick one is like picking a card twice in a row. so 0.4 * 0.4 is 0.16, or 16%