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P1 and P2 have a default setting of 1.00, meaning only the first payment is analyzed. Scroll down to the balance after the first payment,

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P1 and P2 have a default setting of 1.00, meaning only the first payment is analyzed. Scroll down to the balance after the first payment, amount paid toward principal, and amount paid toward interest. BAL $443,963.80 PRN = $56,036.20 INT $40,000.00 To examine the last payment, change P1 and P2 to 7 and review the amortization output: What is the remaining balance? How much of the final payment goes toward repaying principal? How much of the final payment goes toward paying interest

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