Question: Tyson used the Quantitative Reasoning Process to createa plan to pay off his student loans of $5,000. The interest rate on his loanis3.1%annually and he

Tyson used the Quantitative Reasoning Process to createa plan to pay off his student loans of $5,000. The interest rate on his loanis3.1%annually and he plans to make monthly payments of $48.51 for 10 years. Complete months 1 and 2 ofthe amortization table below.

How much of Tyson'spayment goes toInterestin Month 2?

Month	Beginning Balance	Payment: To Interest	Payment: To Principal	Ending Balance
1
2		??
3

(Round your FINAL answer to the nearest cent.)

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