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Yoda Toy Company makes a new stuffed baby yoda that is very popular. They decide to expand their factory to be able to sell more,

Yoda Toy Company makes a new stuffed baby yoda that is very popular. They decide to expand their factory to be able to sell more, and borrow 570000 from the Republic Bank on 16-Jan-2019 at 8.2%. They make a payment of 199500 on 15-Feb-2019 and another payment of 114000 on 31-Mar-2019. What is the amount of their final payment on 26-May-2019? Use the table to help you make your calculations.

Date DBD Interest (8.2%) Payment Reduce Balance by New Balance
16-Jan-2019 570,000
15-Feb-2019 DBD 1 Interest 1 Payment 1 RB 1 New Balance 1
31-Mar-2019 DBD 2 Interest 2 Payment 2 RB 2 New Balance 2
26-May-2019 DBD 3 Interest 3 Final Balance

DBD 1 :

Interest 1 :

Payment 1 :

Reduce Balance by (RB 1) :

New Balance 1 :

DBD 2 :

Interest 2 :

Payment 2 :

Reduce Balance by (RB 2) :

New Balance 2 :

DBD 3 :

Interest 3:

Final Payment :

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