Question: Use an amortization table to solve the problem. Round to the nearest cent. 3) The monthly payments on a $56,000 loan at 12% annual interest

Use an amortization table to solve the problem. Round to the

Use an amortization table to solve the problem. Round to the nearest cent. 3) The monthly payments on a $56,000 loan at 12% annual interest are $616.56. How much of the first monthly payment will go toward interest? A) $73.99 B) $560.00 C) $542.57 D) $672.00

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