payments of $248 per month nterest at 15% compounded monthly. Construct the full amortization schedule for the c ound intermediate calculations. Round your answers to 2 decimal places. Leave no equired.) Payment number Interest Principal portion $ Principal balance $ 1,240.00 1178 Payment $ portion $ 248 186 62 248 176.7 166.01 2 71.3 1106.7 248 248 3. 82.0 1024.71 153.71 4. 94.29 930.41 821.97 697.27 248 139.57 108.44 6. 248 128.29 124.70

payments of $248 per month nterest at 15% compounded monthly. Construct the full amortization schedule for the c ound intermediate calculations. Round your answers to 2 decimal places. Leave no equired.) Payment number Interest Principal portion $ Principal balance $ 1,240.00 1178 Payment $ portion $ 248 186 62 248 176.7 166.01 2 71.3 1106.7 248 248 3. 82.0 1024.71 153.71 4. 94.29 930.41 821.97 697.27 248 139.57 108.44 6. 248 128.29 124.70

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 11RE: Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the...

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Question

Monica bought a $1,550 4K Ultra HD TV 20% down and payments of $248 per month (except for a smaller final payment) including
interest at 15% compounded monthly. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not
round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "O" wherever
required.)
Payment
number
Interest
Principal
portion $
Principal
balance $
Payment $
portion $
1,240.00
1
248
186
62
1178
248
176.7
713
1106.7
3.
248
166.01
82.0
1024 71
4.
248
153.71
94.29
930.41
248
139.57
108 44
821.97
6
248
128.29
124.70
69727
Total interest
950.28

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