Answer:
100% of the 2nd monthly payment go toward the repayment of principal.
Step-by-step explanation:
The loan taken is the Principal which is mentioned as $72,500 with interest at a nominal rate of 20%. Firstly, it is important to understand that nominal rate means <em>non-compounding </em>rate. Simply put will be a "<em>one-time charged" </em>rate on the loan. Since this is given as 20% of the Principal. It is calculated thus: 
× 
= $14,500. So the interest on the loan is $14,500. Added to the Principal the total amount to be paid back by the company becomes: $72,500 + $14,500 = $87,000. To pay back this amount at equal end-of-month installments in 1 year (12 months), we divide the total amount by 12. i.e 
= $7250. This means, the monthly payment will be $7,250. Since the monthly payment pays only 10% of the initial principal $72,500. By the second month only 20% of the Principal would have been paid. So all of the monthly payment will go towards repaying the principal
Answer:
$11.25 intrest
Step-by-step explanation:
the amount times the months divided by 12 times the percent gives you the intrest
A correlation coefficient is always a value in between -1 and 1
The closest a coefficient to -1, the correlation is a strong negative correlation
The closest a coefficient to 1, the correlation is a strong positive correlation
The closest a coefficient to 0, there is no correlation at all
The coefficient -0.61 shows a strong negative correlation
This means that the relationship between the age and the violation is an inverse relationship; as age increases, violation decreases
Answer: option C
