Answer:
B) 14%
Step-by-step explanation:
principal = 220000
First two years 10% paid.
.10 x 220000 = 22000
220000-22000 = 198000
x = percent
x = [tex]\frac{New -Old}{Old}[/tex]
x = [tex]\frac{170000-198000}{198000}[/tex]
x = -.1414
Round to .14
14% is the difference in amounts.
The principal (198000) will need to be reduced 14% to equal 170000
