Question: Use the amortization table to determine how much interest is paid in the first 4 months of the loan. $____________ (Type an integer or a

Use the amortization table to determine how much interest is paid in the first 4 months of the loan.

$____________ (Type an integer or a decimal)

Amortization Table Payment Number Amount of Payment Interest for Period Portion to Principal Principal at End of Period 0 - - - $3500.00 1 $310.97 $35.00 $275.97 $3224.03 2 $310.97 $32.24 $278.73 $2945.30 3 $310.97 $29.45 $281.52 $2663.78 4 $310.97 $26.64 $284.33 $2379.45 5 $310.97 $23.79 $287.18 $2092.27 6 $310.97 $20.92 $290.05 $1802.22 7 $310.97 $18.02 $292.95 $1509.27 8 $310.97 $15.09 $295.88 $1213.39 9 $310.97 $12.13 $298.84 $914.55 10 $310.97 $9.15 $301.82 $612.73 11 $310.97 $6.13 $304.84 $307.89 12 $310.97 $3.08 $307.89 $0.00

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