To help purchase his new car, Alonzo is taking out a $23,000 amortized loan for 6 years at 6.1% annual interest. His monthly payment for this loan is $382 26. Fill in all the blanks in the amortization schedule for the loan. Assume that each month is 12 of a year. Round your answers to the nearest cent. Payment number Interest Principal payment New loan balance раyment %24 1. $40 35 566.99 $31527 $12.863.69 36

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
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To help purchase his new car, Alonzo is taking out a $23,000 amortized loan for 6 years at 6.1 % annual interest. His monthly payment for this loan is $382.26.
Fill in all the blanks in the amortization schedule for the loan. Assume that each month is
of a year. Round your answers to the nearest cent.
12
Payment
number
Principal
payment
Interest
New loan
balance
payment
%24
%24
35
S66.99
$315.27
$12.863,69
36
Transcribed Image Text:To help purchase his new car, Alonzo is taking out a $23,000 amortized loan for 6 years at 6.1 % annual interest. His monthly payment for this loan is $382.26. Fill in all the blanks in the amortization schedule for the loan. Assume that each month is of a year. Round your answers to the nearest cent. 12 Payment number Principal payment Interest New loan balance payment %24 %24 35 S66.99 $315.27 $12.863,69 36
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