Elijah just bought a house with a $72,000 mortgage at a 3.13% annual interest rate. How much of a $930 payment will go towards principal in the first month?

$742.20

Step-by-step explanation:

The payments will be divided between an interest and a principal payment.

The interest payment will be based on the balance at the beginning of the period and the rest of the payment will be the mortgage.

Balance at beginning of period = $72,000

Interest payment = (3.13% * 72,000) / 12 months

= $187.80

Amount going towards principal:

= Total payment - Interest payment

= 930 - 187.80

= $742.20

option a is correct.

step-by-step explanation:

scale factor: it is used to find proportional measurements.

proportions means having the same ratio.

scale factor is the ratio of the model measurement to the actual measurement in a simplest form.

or we can say that the ratio of any two corresponding lengths in two similar geometric figures

if the scale factor is more than 1, then it is an enlargement,

if the scale factor less than 1, then it is a reduction.

given the two geometric figure:

by definition of proportions, we have