Regina took out a 30-year loan for $190,000 at 4.5% interest, compounded monthly. if her monthly payment on the loan is $962.70, and if $712.50 of her first payment went toward interest, how much of her second payment went toward interest? a.$962.70 b.$712.50 c. less than $712.50 d. more than $712.50 but less than $962.70

C.Less than $712.50

Step-by-step explanation:

Given details are :

Loan amount = $190,000

Rate = 4.5% or 0.045 compounded monthly.

Time = months

Monthly payments are = $962.70

First month interest = $712.50

I have calculated this using excel sheet and the answer is - C.Less than $712.50 .

Please find attached the excel sheet to see the working. You can see the highlighted interest that is less than first month interest.

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step-by-step explanation:

hi i’m going tomorrow morning and i can come over and you out with this stuff for me haha ya day is going crazy and i’ll tell you what i’m talking about you don’t wanna go do you think i’m going to be a good friend i just don’t know how much you mean about the stuff you want to do and stuff you know i just want you and you know that i’m going crazy i don’t think i’m going crazy about going tomorrow and i’ll tell ya hey i don’t think i’m going crazy about going tomorrow and i’ll tell you what i’m done