Mrs. Murray is buying a new refrigerator for $2459 at Home Depot. There is 7.5% sales...
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Mrs. Murray is buying a new refrigerator for $2459 at Home Depot. There is 7.5% sales tax added to her purchase. She plans to charge this to her Home Depot credit card, which earns 19.5% APR. She wants to pay $245 per month to the credit card. Find the missing pieces of the amortization table used to calculate how long it will take to pay off the loan. Month Balance Amt. Applied Interest to Principal New Balance 1 [a] [b] [c] $2441.39 2 $2441.39 $39.67 $205.33 $2236.06 3 $2236.06 $36.34 $208.66 $2027.40 4 $2027.40 $32.95 $212.05 $1815.35 7 $1380.85 22.44 [d] $1158.29 [e] $231.29 $3.76 $0 Mrs. Murray is buying a new refrigerator for $2459 at Home Depot. There is 7.5% sales tax added to her purchase. She plans to charge this to her Home Depot credit card, which earns 19.5% APR. She wants to pay $245 per month to the credit card. Find the missing pieces of the amortization table used to calculate how long it will take to pay off the loan. Month Balance Amt. Applied Interest to Principal New Balance 1 [a] [b] [c] $2441.39 2 $2441.39 $39.67 $205.33 $2236.06 3 $2236.06 $36.34 $208.66 $2027.40 4 $2027.40 $32.95 $212.05 $1815.35 7 $1380.85 22.44 [d] $1158.29 [e] $231.29 $3.76 $0
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