June and Bill Able borrow

$122,500 at 7.5% for 10 years. Prepare a repayment schedule for the first two payments.

Part 1

Complete the following table.

Repayment Schedule

Payment Number	Total Payment	Interest Payment	Principal Payment	Balance of Principal
0				$enter your response here
1	$enter your response here	$enter your response here	$enter your response here	$enter your response here
2	$enter your response here	$enter your response here	$enter your response here	$enter your response here