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Jill bought a $590 rocking chair. The terms of her revolving charge are 1.5% on the unpaid balance from the previous month. If she pays

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Jill bought a $590 rocking chair. The terms of her revolving charge are 1.5% on the unpaid balance from the previous month. If she pays $100 per month, complete a schedule for the first 3 months like Table 14.3. Be sure to use the U.S. Rule. (Round your final answers to the nearest cent.) Monthly payment number Outstanding balance due 1.5% interest payment Amount of Reduction in monthly payment balance due Outstanding balance due TABLE 14.3 Schedule of payments Monthly payment number Outstanding balance due Amount of monthly payment 5500.00 58,000.00 57.620.00 11% Interest payment $12000 1015 $8,000.00) $114.30 1015 x 57.620.00 $108.51 1015 x 57,23430 $500.00 Reduction in balance due $380.00 (5500.00 - $120.00) $385.70 ($500.00 - $714.30) $391.49 (5500.00 - $108.51) Outstanding balance due $7,620.00 (58,000.00 - $380.00) 57.234 30 (57.620.00 - $38570) $6,84281 (57.234 30 - $391,49) 57,234 30 $500,00

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