Question
A. Samantha has taken out a loan for $5,000 at 8% APR with monthly payments of $156.68. How much of her first payment goes to
A. Samantha has taken out a loan for $5,000 at 8% APR with monthly payments of $156.68. How much of her first payment goes to pay the interest due? (Hint: To answer this you may need to setup the first row of the amortization table for this loan!) For Samantha's first payment, $[a]goes towards the interest due. (Enter a number rounded totwo decimal places.) The answer isn't $33.50 because it was marked wrong.
B. How much of Samantha's first payment goes towards principal?
For Samantha's first payment, $[b]goes towards the principal. (Enter a number rounded totwo decimal places.)The answer isn't $123.18 because it was marked wrong.
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