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Amortization. Beth has just borrowed $5,900 on a four-year loan at 6% simple interest. Complete the amortization table, , for the first five months of
Amortization. Beth has just borrowed $5,900 on a four-year loan at 6% simple interest. Complete the amortization table, , for the first five months of the loan. a. The beginning balance of the loan for month 2 is $. (Round to the nearest cent.) b. The amount applied to principal in month 2 is $ (Round to the nearest cent.) c. The amount of the monthly payment is $. (Round to the nearest cent.) d. The amount applied to interest in month 3 is $. (Round to the nearest cent.) e. The amount applied to interest in month 4 is $. (Round to the nearest cent.) f. For month 4, with a beginning balance of $5,571.18, the new balance is $ (Round to the nearest cent.) g. The amount applied to principal in month 5 is $ (Round to the nearest cent.) h. For month 5 , with a beginning balance of $5,460.48, and the amount applied to principal of $111.26, the new balance is $. (Round to the nearest cent.)
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