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Shelley borrowed $1013.00 from the Merchant Bank at 7.7% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended
Shelley borrowed $1013.00 from the Merchant Bank at 7.7% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $220.00 per month. Construct a complete repayment schedule for the loan including totals for Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent as needed.) Payment Number Balance Before Payment Amount Paid interest Paid Interest Paid Principal Repaid Balance After Payment S1013.00 1 $1013.00 $220.00 2 $220.00 S $ S 3 $ $220.00 S $ 4 $220.00 SI $ $ 5 $0.00 Totals: S
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