You borrow $2600 at 6% APR to purchase a computer. You plan to make monthly payments of $28.86 until the loan is paid off. Make an amortization table showing payments over the first three months. Round each answer to two decimal places whenever necessary and use the rounded answers to calculate remaining values. Payment Number 1 2 3 Payment Applied to Interest 1-Prt with t=1/12 is $28.86 $ $28.86 $ $28.86 in S Applied to Balance Owed Payment - Interest $ $ Outstanding Balance Amount Borrowed - Amount Applied to Balance $ 2600 $ s $

You borrow $2600 at 6% APR to purchase a computer. You plan to make monthly payments of $28.86 until the loan is paid off. Make an amortization table showing payments over the first three months. Round each answer to two decimal places whenever necessary and use the rounded answers to calculate remaining values. Payment Number 1 2 3 Payment Applied to Interest 1-Prt with t=1/12 is $28.86 $ $28.86 $ $28.86 in S Applied to Balance Owed Payment - Interest $ $ Outstanding Balance Amount Borrowed - Amount Applied to Balance $ 2600 $ s $

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 11RE: Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the...

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