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Suppose we borrow $100 at 2% APR and pay it off in 12 monthly payments. Make an amortization table showing payments over the rst three
Suppose we borrow $100 at 2% APR and pay it off in 12 monthly payments. Make an amortization table showing payments over the rst three months. P tayme Pay Applied Applied to Outstan 11 me to balance ding numbe , nt Interest owed balance r N/A N/A N/A N/A $100.00 1 8.42 0.17 ? 2 3 Calculate amount of payment 1 applied to balance owed indicated by "?" in the table. (Give your answer to at least two decimal places.) Amount of payment 1 applied to balance owed = U u
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