Beth has just borrowed $11,400 on a four-year loan at 8% simple interest.

Complete the amortization table, for the first five months of the loan (see letters).

Payment Number Beginning Balance $11,400 Payment Amount $278.31 $278.31 1 Applied to Interest $76.00 $74.65 d Applied to Principal $202.31 b $205.02 $206.38 New Balance $11,197.69 $10,994.03 $10,789.01 f 2 3 4 5 $10,994.03 $10,789.01 $10,582.63 $278.31 $278.31 e $70.55 g h