You has just borrowed $5,000 on a four year loan at 8% simple amortized interest . Complete the Amortization table below for the first 6 month of the loan.

USING A LOAN AMORTIZATION TABLE.

 

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Payment Number Beginning Balance 1 $5,000.00 2 A 3 $4,822.00 4 $4,732.22 5 $4,641.77 $4550.72 6 Payment amount Applied Applied to to New interest Principal Balance $33.33 $88.67 $4,911.33 $122 $122 $32.74 B $122 C $122 D $122 G 30.95 F HI $4,822.07 $4,732.22 $89.85 $90.45 E $4550.72 J Payment Number Beginning Balance 1 $5,000.00 2 A 3 $4,822.00 4 $4,732.22 5 $4,641.77 $4550.72 6 Payment amount Applied Applied to to New interest Principal Balance $33.33 $88.67 $4,911.33 $122 $122 $32.74 B $122 C $122 D $122 G 30.95 F HI $4,822.07 $4,732.22 $89.85 $90.45 E $4550.72 J

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