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u have a new 10 year Student loan for $20,000.00 that charges an interest rate of 5.65% compounded onthly. The Amortization Table below shows your activity for the first month's payment. l in The Interest Payment, Principle Payment, and New Balance after you make the second Payment in onth 2 Payment Payment Interest Payment Principle Payment New Balance amount $20,000.00 $218.54 $94.17 $124.38 $19,875.62 2 $218.54

u have a new 10 year Student loan for $20,000.00 that charges an interest rate of 5.65% compounded onthly. The Amortization Table below shows your activity for the first month's payment. l in The Interest Payment, Principle Payment, and New Balance after you make the second Payment in onth 2 Payment Payment Interest Payment Principle Payment New Balance amount $20,000.00 $218.54 $94.17 $124.38 $19,875.62 2 $218.54

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
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You have a new 10 year Student loan for $20,000.00 that charges an interest rate of 5.65% 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 | Раyment |amount Interest Payment Principle Payment New Balance %23 $20,000.00 $218.54 $94.17 $124.38 $19,875.62 $218.54
Transcribed Image Text:You have a new 10 year Student loan for $20,000.00 that charges an interest rate of 5.65% 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 | Раyment |amount Interest Payment Principle Payment New Balance %23 $20,000.00 $218.54 $94.17 $124.38 $19,875.62 $218.54
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Introduction

Amortization table or amortization schedule refers to the loan repayment schedule as per the repayment time frame. An amortization table specifies the interest payment, principal payment, balance payment amount, and the total periodic amount to be paid in each payment period.  

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