Suppose that Grace is interested in the details of her fourth payment. Instead of re-constructing her amortization schedule from payment 0, Grace can determine the details of her 4th payment by constructing a partial amortization schedule. Since she is only interested in the 4th payment, her "P," and "P" are both "4". The BAL, PRN, and INT for this particular payment can then be read from the calculator directly. When you do these calculations below, notice that the values are the same as those calculated in the amortization schedule on the previous page. Enter your answer in the provided text area and select Check answer QUESTION INPUT FEEDBACK What is the principal balance remaining (BAL)? Check Answer What is the principal component of the fourth payment? 0000 Check Answer 0000 What is the interest component of the fourth payment? Check Answer How much interest will be paid in the first year of the loan? Check Answer 7 Do you want to check your solutions? Select the appropriate title below Suppose that Grace is interested in the details of her fourth payment. Instead of re-constructing her amortization schedule from payment 0, Grace can determine the details of her 4th payment by constructing a partial amortization schedule. Since she is only interested in the 4th payment, her "P," and "P" are both "4". The BAL, PRN, and INT for this particular payment can then be read from the calculator directly. When you do these calculations below, notice that the values are the same as those calculated in the amortization schedule on the previous page. Enter your answer in the provided text area and select Check answer QUESTION INPUT FEEDBACK What is the principal balance remaining (BAL)? Check Answer What is the principal component of the fourth payment? 0000 Check Answer 0000 What is the interest component of the fourth payment? Check Answer How much interest will be paid in the first year of the loan? Check Answer 7 Do you want to check your solutions? Select the appropriate title below