Year Principal
0 $320,000.00
1 $305,600.00
2 $291,344.00
3 $277,226.08
Jamie and Eddie are buying an apartment for $320,000. Their loan officer tells them that their principal will decrease by 4.5% every year if they make the minimum mortgage payments. Complete the table to predict the principal for the first 3 years. (Round to the nearest hundredth, if applicable.)(2 points)
Year Principal
0 $320,000.00
1 $
2 $
3 $
4 answers
Wrong
retry
2 and 3 are wrong