Respuesta :
The adjusted principal after 45 days is $4346.4 and the adjusted balance due at maturity is $4404.06.
What is Interest ?
A sum of money that has to be paid for getting loan of certain amount is the Interest .
The principal amount = $5500
Rate = 6.75%
Interest for 45 days will be equal to
5500 * 0.0675 *(45/360) = 46.4
This sum will be deducted from the payment done on 45th day
1200- 46.4 = $1153.6
Now , The adjusted principal after 45 days is
5500 - 1153.6 = $4346.4
The interest she has to pay on this adjusted principal is
4346.4 *0.0675* (75 /360)
= $ 57.66
the adjusted balance due at maturity is
$1346.4 + $57.66 = 4404.06
The adjusted principal after 45 days is $4346.4 and the adjusted balance due at maturity is $4404.06.
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