Question Consider the following amortization schedule: Payment # 1 2 3 Payment Interest 1,167.34 540.54 1,167.34 539.24 1,167.34 x Debt Payment 626.80 628.10 Y With the exception of column one, all amounts are in dollars. Calculate y. Round your answer to the nearest dollar. Do NOT round until you calculate the final answer. 2 Balance 259,873.20 259,245.10 Z

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Consider the following amortization schedule:
Payment # Payment Interest
1,167.34
1,167.34
1,167.34
1
2
3
Debt Payment
540.54 626.80
539.24
8
628.10
Y
With the exception of column one, all amounts are in dollars. Calculate y.
Round your answer to the nearest dollar.
Do NOT round until you calculate the final answer.
W
Balance
259,873.20
259,245.10
z
Transcribed Image Text:Question Consider the following amortization schedule: Payment # Payment Interest 1,167.34 1,167.34 1,167.34 1 2 3 Debt Payment 540.54 626.80 539.24 8 628.10 Y With the exception of column one, all amounts are in dollars. Calculate y. Round your answer to the nearest dollar. Do NOT round until you calculate the final answer. W Balance 259,873.20 259,245.10 z
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