Blended payments on a $2010.00 loan were $420.00 per month. Interest was charged at 8% per annum calculated on the monthily unpaid balance. Construct a complete repayment schedule for the loan including totals for Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent needed.) Payment Number Balance Before Payment Amount Paid Interest Paid Principal Repaid Balance After Payment $2010.00 1 $2010.00 $420.00 2 $420.00 %24 3 $420.00 $ $4 4 $420.00 $ $1 $0.00 Totals: $
Blended payments on a $2010.00 loan were $420.00 per month. Interest was charged at 8% per annum calculated on the monthily unpaid balance. Construct a complete repayment schedule for the loan including totals for Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent needed.) Payment Number Balance Before Payment Amount Paid Interest Paid Principal Repaid Balance After Payment $2010.00 1 $2010.00 $420.00 2 $420.00 %24 3 $420.00 $ $4 4 $420.00 $ $1 $0.00 Totals: $
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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(Round to the nearest cent as needed.)
Transcribed Image Text:Blended payments on a $2010.00 loan were S$420.00 per month. Interest was charged at 8% per annum calculated on the monthly unpaid balance. Construct a complete repayment
schedule for the loan including totals for Amount Paid, Interest Paid, and Principal Repaid.
Complete the repayment schedule below. (Round to the nearest cent as needed.)
Payment Number
Balance Before Payment
Amount Paid
Interest Paid
Principal Repaid
Balance After Payment
$2010.00
1
$2010.00
$420.00
$
2
$420.00
$
3
$420.00
$1
2$
4
$420.00
$0.00
Totals:
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