Monica bought a $2200 stereo system for 20% down and payments of $352 per month (except...
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Monica bought a $2200 stereo system for 20% down and payments of $352 per month (except for a smaller final payment) including interest at 16% compounded monthly. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.) Payment number Payment Interest portion Principal portion Principal balance $1760.00 1 2 4 Total interest %24 %24 %24 %24 3. Monica bought a $2200 stereo system for 20% down and payments of $352 per month (except for a smaller final payment) including interest at 16% compounded monthly. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.) Payment number Payment Interest portion Principal portion Principal balance $1760.00 1 2 4 Total interest %24 %24 %24 %24 3.
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Answer rating: 100% (QA)
Amount of loan1760 Interest 175 principal balance The amortization t... View the full answer
Related Book For
Physics
ISBN: 978-0077339685
2nd edition
Authors: Alan Giambattista, Betty Richardson, Robert Richardson
Posted Date:
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