7x/8 = 21
(7x/8)(8) = 21 (8) 7x = 168 7x/7 = 168/7 (x = 24)
a. 24
b. 18.375
c. 1.857
d. 19

You have just applied, and have been approved for a $58,000 mortgage. the rate quoted to you by the lender is 6.1% for a 30 year fixed mortgage. determine how much of your third month’s payment goes towards the principal. $56.65 $56.93 $57.22 $57.51