You have taken a loan of $11,000.00 for 4 years at 1.4% compounded monthly. Fill in the table below: (Round all answers to 2 decimal places.) Payment number Payment amount Principal Amount Interest Balance 0) $11,000.00 1) 2) 3) %24

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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You have taken a loan of $11,000.00 for 4 years at 1.4% compounded monthly. Fill in the table below: (Round
all answers to 2 decimal places.)
Payment number Payment amount Principal Amount Interest
Balance
0)
$11,000.00
1)
2)
3)
$
%24
Transcribed Image Text:You have taken a loan of $11,000.00 for 4 years at 1.4% compounded monthly. Fill in the table below: (Round all answers to 2 decimal places.) Payment number Payment amount Principal Amount Interest Balance 0) $11,000.00 1) 2) 3) $ %24
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