installment loan\nprincipal $1,110\nterm length 2 1/2 years\ninterest rate 12%\nmonthly payment $43\nhow…

installment loan\nprincipal $1,110\nterm length 2 1/2 years\ninterest rate 12%\nmonthly payment $43\nhow much of the 26th payment will go to principal if there is an outstanding principal of $209?\ninterest on 26th payment = $2.09\nprincipal on 26th payment = $?\nround to the nearest hundredth.

installment loan\nprincipal $1,110\nterm length 2 1/2 years\ninterest rate 12%\nmonthly payment $43\nhow much of the 26th payment will go to principal if there is an outstanding principal of $209?\ninterest on 26th payment = $2.09\nprincipal on 26th payment = $?\nround to the nearest hundredth.

Answer

Explanation:

Step1: Subtract interest from monthly payment to find principal

Principal = Monthly Payment - Interest

Answer:

$40.91$