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Use the amortization table to determine how much of the 5th payment is used to reduce the debt. Click the icon to view the amortization table. The amount of the 5th payment used to reduce the debt is $ (Type an integer or a decimal.)

Use the amortization table to determine how much of the 5th payment is used to reduce the debt. Click the icon to view the amortization table. The amount of the 5th payment used to reduce the debt is $ (Type an integer or a decimal.)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Payment Number Amount of Payment 0 1 $172.13 2 $172.13 3 $172.13 4 $172.13 5 $172.13 6 $172.13 7 $172.13 8 $172.13 9 $172.13 10 $172.13 11 $172.13 12 $172.17 Amortization Table Interest for Period $10.00 $9.19 $8.37 $7.56 $6.73 $5.91 $5.07 $4.24 $3.40 $2.56 $1.71 $0.86 Portion to Principal $162.13 $162.94 $163.76 $164.57 $165.40 $166.22 $167.06 $167.89 $168.73 $169.57 $170.42 $171.31 Principal at End of Period $2000.00 $1837.87 $1674.93 $1511.17 $1346.60 $1181.20 $1014.98 $847.92 $680.03 $511.30 $341.73 $171.31 $0.00
Transcribed Image Text:Payment Number Amount of Payment 0 1 $172.13 2 $172.13 3 $172.13 4 $172.13 5 $172.13 6 $172.13 7 $172.13 8 $172.13 9 $172.13 10 $172.13 11 $172.13 12 $172.17 Amortization Table Interest for Period $10.00 $9.19 $8.37 $7.56 $6.73 $5.91 $5.07 $4.24 $3.40 $2.56 $1.71 $0.86 Portion to Principal $162.13 $162.94 $163.76 $164.57 $165.40 $166.22 $167.06 $167.89 $168.73 $169.57 $170.42 $171.31 Principal at End of Period $2000.00 $1837.87 $1674.93 $1511.17 $1346.60 $1181.20 $1014.98 $847.92 $680.03 $511.30 $341.73 $171.31 $0.00
Use the amortization table to determine how much of the 5th payment is used to reduce the debt. Click the icon to view the amortization table. The amount of the 5th payment used to reduce the debt is $ (Type an integer or a decimal.)
Transcribed Image Text:Use the amortization table to determine how much of the 5th payment is used to reduce the debt. Click the icon to view the amortization table. The amount of the 5th payment used to reduce the debt is $ (Type an integer or a decimal.)
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