ou have a new 10 year Student loan for $16,500.00 that charges an interest rate of 5.35% compounded nonthly. The Amortization Table below shows your activity for the first month's payment. Fill in The Interest Payment, Principle Payment, and New Balance after you make the second Payment in Month 2 Payment Payment Interest Payment Principle Payment New Balance %#: amount $16,500.00 1 $177.84 $73.56 $104.28 $16,395.72 2. $177.84
ou have a new 10 year Student loan for $16,500.00 that charges an interest rate of 5.35% compounded nonthly. The Amortization Table below shows your activity for the first month's payment. Fill in The Interest Payment, Principle Payment, and New Balance after you make the second Payment in Month 2 Payment Payment Interest Payment Principle Payment New Balance %#: amount $16,500.00 1 $177.84 $73.56 $104.28 $16,395.72 2. $177.84
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:You have a new 10 year Student loan for $16,500.00 that charges an interest rate of 5.35% compounded
monthly. The Amortization Table below shows your activity for the first month's payment.
Fill in The Interest Payment, Principle Payment, and New Balance after you make the second Payment in
Month 2
Payment
Payment
Interest Payment
Principle Payment
New Balance
amount
$16,500.00
----
$177.84
$73.56
$104.28
$16,395.72
$177.84
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