monthly payment\nprincipal $219,400\nterm length 30 years\ninterest rate 3%\nmonthly payment $925\nhow much…

monthly payment\nprincipal $219,400\nterm length 30 years\ninterest rate 3%\nmonthly payment $925\nhow much of the 39th payment will go toward principal if there is an outstanding principal of $204,411?\ninterest on 39th payment = $511.03\nprincipal on 39th payment = $?

monthly payment\nprincipal $219,400\nterm length 30 years\ninterest rate 3%\nmonthly payment $925\nhow much of the 39th payment will go toward principal if there is an outstanding principal of $204,411?\ninterest on 39th payment = $511.03\nprincipal on 39th payment = $?

Answer

Answer:

$413.97$

Explanation:

Step1: Recall payment - principal relationship

Monthly payment = Interest + Principal payment

Step2: Substitute given values

Principal payment = Monthly payment - Interest Principal payment = $925 - 511.03$

Step3: Calculate result

Principal payment = $413.97$