ou have a new 10 year Student loan for $16,500.00 that charges an interest rate of 5.35% compounded nonthly. The Amortization Table below shows your activity for the first month's payment. Fill in The Interest Payment, Principle Payment, and New Balance after you make the second Payment in Month 2 Payment Payment Interest Payment Principle Payment New Balance %#: amount $16,500.00 1 $177.84 $73.56 $104.28 $16,395.72 2. $177.84

ou have a new 10 year Student loan for $16,500.00 that charges an interest rate of 5.35% compounded nonthly. The Amortization Table below shows your activity for the first month's payment. Fill in The Interest Payment, Principle Payment, and New Balance after you make the second Payment in Month 2 Payment Payment Interest Payment Principle Payment New Balance %#: amount $16,500.00 1 $177.84 $73.56 $104.28 $16,395.72 2. $177.84

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 6FPE

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