Jo Jensen needed to purchase office equipment costing $6,500. She was able to finance her purchase over 3 months at a 11.4% annual interest rate. Complete the installment purchase table under the following payment option.

Jo makes monthly payments of $2,400, $2,200, and $1,900 on the principal and pays interest of 0.95% on the unpaid balance each month (11.4% annual rate). Round your answers to the nearest dollar.

Month	Unpaid Balance		Interest Payment			Principal Payment			Total Payment			New Balance
1	$6,500		$			$2,400			$			$
2						2,200
3						+1,900						0
						$6,500