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To help with the startup costs of his new comic book store, Pablo is taking out a $47,000 amortized loan for 10 years at 7.1% annual interest. His monthly payment for this loan is $548.14. 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. Payment number Principal payment Interest New loan payment balance 1 $46,458.29 65 $154.21 $393.93 $25,669.14 66

To help with the startup costs of his new comic book store, Pablo is taking out a $47,000 amortized loan for 10 years at 7.1% annual interest. His monthly payment for this loan is $548.14. 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. Payment number Principal payment Interest New loan payment balance 1 $46,458.29 65 $154.21 $393.93 $25,669.14 66

Essentials Of Investments
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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To help with the startup costs of his new comic book store, Pablo is taking out a $47,000 amortized loan for 10 years at 7.1% annual interest. His monthly payment for this loan is $548.14. of a year. Round your answers to the 12 Fill in all the blanks in the amortization schedule for the loan. Assume that each month is nearest cent. Principal payment New loan Payment number Interest payment balance 1 $46,458.29 65 $154.21 $393.93 $25,669.14 66
Transcribed Image Text:To help with the startup costs of his new comic book store, Pablo is taking out a $47,000 amortized loan for 10 years at 7.1% annual interest. His monthly payment for this loan is $548.14. of a year. Round your answers to the 12 Fill in all the blanks in the amortization schedule for the loan. Assume that each month is nearest cent. Principal payment New loan Payment number Interest payment balance 1 $46,458.29 65 $154.21 $393.93 $25,669.14 66
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