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Consider a loan of $2,000 charging interest at j12=4.8% with monthly payments of $87.50.Calculate the missing amounts in the amortization table. begin{tabular}{||c||c|c||c||c|} hline# & PMT
Consider a loan of $2,000 charging interest at j12=4.8% with monthly payments of $87.50.Calculate the missing amounts in the amortization table.
\begin{tabular}{||c||c|c||c||c|} \hline# & PMT & Interest & Principal & Balance \\ \hline \hline- & - & - & - & 2,000.00 \\ \hline \hline 1 & 87.50 & 8.00 & 79.50 & 1,920.50 \\ \hline \hline 2 & 87.50 & A & B & C \\ \hline \end{tabular}Step by Step Solution
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