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Need help with this question along with how you get the answers. On August 1, along with his regular payment of $1,384.04, Ben also made
Need help with this question along with how you get the answers.
On August 1, along with his regular payment of $1,384.04, Ben also made an additional principal payment of $500. Complete the repayment schedule below to reflect the additional payment. (On September 1, Ben pays the regular monthly amount). Note 1: The regular monthly loan payment amount is not affected by the additional principal payment. It will remain the same each month. Note 2: The interest portion of the August 1 payment (paying interest for July) is still based on $179,670.56. Date Payment Interest Principal Loan Balance $180,000.00 179,890.96 179,781.15 1-Jun 1 - Jul $1,275.00 1,274.23 $109.04 109.81 $1,384.04 1,384.04 1,384.04 +500 extra 1,384.04 1-Aug 1-Sep Show Work Here: August: SeptemberStep by Step Solution
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