Question: Monica bought a $2200 stereo system for 20% down and payments of $352 per month (except for a smaller final payment) including interest at

Monica bought a $2200 stereo system for 20% down and payments of

Monica bought a $2200 stereo system for 20% down and payments of $352 per month (except for a smaller final payment) including interest at 16% compounded monthly. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.) Payment number Payment Interest portion Principal portion Principal balance $1760.00 1 2 4 Total interest %24 %24 %24 %24 3.

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