5) You have just borrowed $20,000 on a 10 year loan at 8% simple interest. Complete the Amortization table below for the first 6 month of the loan.

Payment Number 1 2 3 4 5 6 Applied Applied Beginning Payment to to Ending Balance amount interest Principal Balance $20,000.00 $242.66 $133.33 $109.32 A $19,890.68 $242.66 $132.60 $110.05 $19,780.63 $19,780.63 B $131.87 $110.78 $19,669.84 $19,669.84 $242.66 $131.13 C $19,558.32 $19,558.32 $242.66 D $112.27 $19,446.05 E $242.66 $129.64 $113.01 $19,333.04