Carla borrowed $1002.00 from the Merchant Bank at 8.4% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $220.00 per month. Construct a complete repayment schedule for the loan including totals Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent as needed.) Payment Number Balance Before Payment TT Balance After Payment $1002.00 Amount Paid Interest Paid Principal Repaid $1002.00 $220.00 2 $220.00 3 $220.00 4 $220.00 $0.00 Totals:

Carla borrowed $1002.00 from the Merchant Bank at 8.4% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $220.00 per month. Construct a complete repayment schedule for the loan including totals Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent as needed.) Payment Number Balance Before Payment TT Balance After Payment $1002.00 Amount Paid Interest Paid Principal Repaid $1002.00 $220.00 2 $220.00 3 $220.00 4 $220.00 $0.00 Totals:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 1EB: Everglades Consultants takes out a loan in the amount of $375,000 on April 1. The terms of the loan...

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