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Given the annual interest rate and a line of an amortization schedule for that the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment 9.1% $417.50 Paid Principal $367.20 Balance $50.30 $6,268.36 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 9.1% $417.50 $50.30 $367.20 $6,268.36

Given the annual interest rate and a line of an amortization schedule for that the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment 9.1% $417.50 Paid Principal $367.20 Balance $50.30 $6,268.36 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 9.1% $417.50 $50.30 $367.20 $6,268.36

Essentials Of Investments
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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Did I do this correctly? I thought the interest paid should go down, not up? I feel like I messed up somewhere.

 

Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Interest Paid Paid on Principal Annual Interest Rate Payment $417.50 Balance 9.1% $50.30 $367.20 $6,268.36 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 9.1% $417.50 $50.30 $367.20 $6,268.36 S417.50 $57.54 $ 359.96 $ 5908.40 (Round to the nearest cent as needed.)
Transcribed Image Text:Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Interest Paid Paid on Principal Annual Interest Rate Payment $417.50 Balance 9.1% $50.30 $367.20 $6,268.36 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 9.1% $417.50 $50.30 $367.20 $6,268.36 S417.50 $57.54 $ 359.96 $ 5908.40 (Round to the nearest cent as needed.)
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