monthly payment\nprincipal $133,600\nterm length 30 years\ninterest rate 6%\nmonthly payment $801\nhow much…

monthly payment\nprincipal $133,600\nterm length 30 years\ninterest rate 6%\nmonthly payment $801\nhow much of the 86th payment will go toward principal if there is an outstanding principal of $119,556?\ninterest on 86th payment = $597.78\nprincipal on 86th payment = $?

monthly payment\nprincipal $133,600\nterm length 30 years\ninterest rate 6%\nmonthly payment $801\nhow much of the 86th payment will go toward principal if there is an outstanding principal of $119,556?\ninterest on 86th payment = $597.78\nprincipal on 86th payment = $?

Answer

Answer:

$203.22$

Explanation:

Step1: Recall payment - principal relation

Monthly payment = Interest + Principal

Step2: Calculate principal amount

Principal = Monthly payment - Interest Principal = $801 - 597.78$ Principal = $203.22$