Portion of a Repayment Schedule for a $5,290 Loan at 9% for 18 Months Amount Amount...

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Portion of a Repayment Schedule for a $5,290 Loan at 9% for 18 Months Amount Amount Payment Monthly for for Balance Number Payment Interest Principal 1 $315.27 $39.67 $275.60 $5,014.40 2 $315.27 $37.61 $277.66 $4,736.74 3 $315.27 $35.53 $279.74 $4,456.99 $315.27 $33.43 $281.84 $4,175.15 Alfred Marson obtained a $5,290 loan at 9% for 18 months shown in the repayment schedule above. What is the final payment if she pays off the loan with the fifth payment? Step 1 Find the previous balance. Step 2 Find the interest for the 5th month. Step 3 Find the final payment Step 1: $4 175 45 Portion of a Repayment Schedule for a $5,290 Loan at 9% for 18 Months Amount Amount Payment Monthly for for Balance Number Payment Interest Principal 1 $315.27 $39.67 $275.60 $5,014.40 2 $315.27 $37.61 $277.66 $4,736.74 3 $315.27 $35.53 $279.74 $4,456.99 $315.27 $33.43 $281.84 $4,175.15 Alfred Marson obtained a $5,290 loan at 9% for 18 months shown in the repayment schedule above. What is the final payment if she pays off the loan with the fifth payment? Step 1 Find the previous balance. Step 2 Find the interest for the 5th month. Step 3 Find the final payment Step 1: $4 175 45