After completing a bachelors degree, you have $$15,000\mathrm{.}00$ in student loans to pay back at an interest rate of $2\mathrm{.}25\%$ for $6$ years.

Follow the steps to show work used to calculate the monthly payment on this loan.

Enter the values needed for the LEFT and RIGHT sides of the amortization formula.

LOOK AT YOUR FORMULA SHEET.

Be sure to use parentheses as shown in class and $*$ to show multiplication:

LHS:

Hint

RHS: pymt $.$

Hint

Now simplify the expressions from above and enter the final values for both sides below, keeping at least $6$ decimal places:

$=pymt.$

Finish your calculation of the payment and enter your result, rounded to the nearest penny, in the table below. Then use the information to complete missing values in the table.

SEE THE VIDEO BELOW IF YOU NEED HELP WITH THE TABLE

$($Round to the nearest cent$)$

$\backslash$table$[[$Month$,$Monthly Payment,Interest on Prior Balance,Principle,Outstanding Balance$],[1,,,,],[2,,,,],[3,,,,]]$

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