What was the loan amount, or starting principal? Use the amortization table below to answer the questions.
Question:
What was the loan amount, or starting principal?
Use the amortization table below to answer the questions.
Transcribed Image Text:
Loan Amount Interest Rate (annual) Term (Years) Monthly Payment Amortization Schedule Calculator $19,250.00 4.75% 5 $361.07 Month Payment Principal Interest Total Interest Balance $19,250.00 1 $361.07 $284.87 $76.20 $76.20 $18,965.13 2 $361.07 $286.00 $75.07 $151.27 $18,679.13 3 $361.07 $287.13 $73.94 $225.21 $18,391.99 4 $361.07 $288.27 $72.80 $298.01 $18,103.73 LO 5 $361.07 $289.41 $71.66 $369.67 $17,814.32 6 $361.07 $290.56 $70.52 $440.18 $17,523.76 7 $361.07 $291.71 $69.36 $509.55 $17,232.05 8 $361.07 $292.86 $68.21 $577.76 $16,939.19 9 $361.07 $294.02 $67.05 $644.81 $16,645.17 10 $361.07 $295.18 $65.89 $710.70 $16,349.99 11 $361.07 $296,35 $64.72 $775,42 $16,053.64 12 $361.07 $297.52 $63.55 $838.96 $15,756.11 13 $361.07 $298.70 $62.37 $901.33 $15,457.41 14 $361.07 $299.88 $61.19 $962.51 $15,157.53 15 $361.07 $301.07 $60.00 $1,022.51 $14,856.46 16 $361.07 $302.26 $58.81 $1,081.32 $14,554.19 17 $361.07 $303.46 $57.61 $1,138.93 $14,250.73
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