Question: math 034 penn state, continued: Construct the second row of the amortization table for their student loans. How much of their secondpayment goes toward interest?

math 034 penn state, continued:

Construct the second row of the amortization table for their student loans.

How much of their secondpayment goes toward interest?

How much of their secondpayment goes toward principal?

After making their secondpayment, what is the remaining balance?

Note: Round your answers to two decimal places. Do NOT include dollar signs in your answers.

Question 5

2pts

Continue constructing the amortization table for their student loans until you have completed 12 rows of the table. What is the total amount of interest that Dave and Sarah will pay on their student loans in the first year?

Note: Round your final answer to two decimal places. Do NOT include a dollar sign in your final answer.

Question 6

2pts

Explain how you constructed the amortization table for their student loans. Include all of the formulas that you used. Show your calculations for at least one row of the table.

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