Develop and amortization table for the payments toward the purchase of a car. Payments are monthly for 4 years. Loan amount is $23,000. Interest is 5.5% annual. $23,000.00 5.50% (Annual Rate) 4 Loan: Interest: Years: Payment: Total Paid: tal Interest: $534.90 $25,675.15 $2,675.15 fr www. |||||| Pmt 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 Payment Beginning Ending Month Balance Balance Jul-16 $23,000.00 $22,894.58 Aug-16 $0.06 $0.04 Sep-16 $4.00 $4.00 Oct-16 S0.00 $0.00 Nov-16 S534.90 #****** Dec-16 $25,675.15 *********** Jan-17 $2,675.15 $2,675.15 Feb-17 $0.00 #VALUE! Mar-17 #VALUE! Apr-17 Payment Month #VALUE! May-17 $42,552.00 ** Jun-17 $42,583.00 # Jul-17 $42,614.00 Aug-171 $42,644.00 Sep-17 542,675.00 Oct-17 $42,705.00 Nov-17 $42,736.00 Dec-17 $42,767.00 Jan-18 $42,795.00 Feb-18 $42,826.00 Mar-18 $42,856.00 Apr-18 $42,887.00 May-18 $42,917.00 Jun-18 $42,948.00 Jul-18 $42,979.00 Aug-18 $43,009.00 Sep-18 $43,040.00 Oct-18 $43,070.00 Nov-18 $43,101.00 Dec-18 $43,132.00 Jan-19 $43, 160.00 Feb-19 $43,191.00 Mar-19 $43,221.00 Apr-19 $43,252.00 May-19 $43,282.00 Jun-19 $43,313.00 Jul-19 $43,344.00 Payment Toward Toward Amount Interest Principal $534.90 $105.42 $429.48 $534.90 $0.02 $534.88 $534.90 $0.00 $534.90 $534.90 $0.00 $534.90 S534.90 ****** | $534.90 #*****### ######### $534.90 $0.00 $534.90 $534.90 #VALUE! #VALUE! $534.90 #VALUE! #VALUE! $534.90 #VALUE! #VALUE! $534.90 $534.90 $534.90 $534.90 S534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90 $534.90