Real Estate MathLoan_and_interest_calculationsMEDIUM
A borrower has a $200,000 loan at 5.5% annual interest. The monthly payment is $1,135.58. After the first payment, how much principal has been paid?
Correct Answer
D) $218.91
Step 1: Monthly interest = $200,000 × 5.5% ÷ 12 = $916.67. Step 2: Principal = Total payment − Interest = $1,135.58 − $916.67 = $218.91.
Answer Options
A
$916.67B
$11,000C
$1,135.58D
$218.91Why This Is the Correct Answer
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Why the Other Options Are Wrong
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Deep Analysis of This Real Estate Math Question
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Background Knowledge for Real Estate Math
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Real World Application in Real Estate Math
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Related Topics & Key Terms
Key Terms:
loan_and_interest_calculationsamortizationprincipalfinancing_math
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