Monica bought a $1,850 4K Ultra HD TV 20% down and payments of $296 per month (except for a smaller final payment) including interest at 16% compounded monthly. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not round Intermedlate calculatlons. Round your answers to 2 decimal places. Leave no cells blank - be certaln to enter "O" wherev requlred.) Payment number Interest Principal portion $ Principal balance $ Payment $ portion $ 1,480.00 1203.73 296.00 296.00 296.00 19.73 16.05 2 923.78 640.10 35263 61.34 3. 12.32 8.53 470 0.82 4. 296.00 296.00 6215 6. Total interest 6215 %24
Monica bought a $1,850 4K Ultra HD TV 20% down and payments of $296 per month (except for a smaller final payment) including interest at 16% compounded monthly. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not round Intermedlate calculatlons. Round your answers to 2 decimal places. Leave no cells blank - be certaln to enter "O" wherev requlred.) Payment number Interest Principal portion $ Principal balance $ Payment $ portion $ 1,480.00 1203.73 296.00 296.00 296.00 19.73 16.05 2 923.78 640.10 35263 61.34 3. 12.32 8.53 470 0.82 4. 296.00 296.00 6215 6. Total interest 6215 %24
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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Question
Transcribed Image Text:Monica bought a $1,850 4K Ultra HD TV 20% down and payments of $296 per month (except for a smaller final payment) including
interest at 16% compounded monthly. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not
round Intermedlate calculations. Round your answers to 2 declmal places. Leave no cells blank - be certaln to enter "O" wherever
requlred.)
Payment
number
Interest
Principal
portion $
Principal
balance $
Рауment $
:冒三美
portion $
296.00
296.00
1,480.00
1203.73
923.78
640.10
19.73
2.
16.05
1232
8.53
296.00
296.00
296.00
6215
eBook
4.
352.63
4.70
61.34
0.82
Print
Total interest
24
6215
Mc
Graw
Hill
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