Question: Joseph used the Quantitative Reasoning Process to createa plan to pay off his student loans of $1,540. The interest rate on his loanis3.9%annually and he

Joseph used the Quantitative Reasoning Process to createa plan to pay off his student loans of $1,540. The interest rate on his loanis3.9%annually and he plans to make monthly payments of $15.52 for 10 years. Complete months 1 and 2 ofthe amortization table below.

How much of Joseph'spayment goes toInterestin Month 2?

Month Beginning Balance Payment: to interest Payment: to principal Ending Balance

2 ?????

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