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Tyson used the Quantitative Reasoning Procees to create a plan to pay off his student loans of $4,660. The interest rate on his loan is
Tyson used the Quantitative Reasoning Procees to create a plan to pay off his student loans of $4,660. The interest rate on his loan is 1.9% annually and he plans to make monthly payments of $42.67 for 10 years. Complete months 1 and 2 of the amortization table below.
How much of Tyson's payment goes to Interest in Month 2?
Month | Beginning Balance | Payment: To Interest | Payment: To Principal | Ending Balance |
1 | ||||
2 | ?? | |||
3 |
(Round your FINAL answer to the nearest cent.)
$
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