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A loan is amortized by level monthly payments paid at the end of every month. The borrower noticed that the outstanding balances on three consecutive
A loan is amortized by level monthly payments paid at the end of every month. The borrower noticed that the outstanding balances on three consecutive payment dates are Payment Interest Payment Principal Repayment Outstanding Balance 16902.95 16244.60 15584.27 1. Find the monthly interest rate. Round to four decimal places. 2. Determine the level payment and fill out all cells in the table. Enter the level payment in the following blank. Round your answer to two decimal places
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