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You have just taken out an amortized loan for $444,000. Assume that the loan will be paid in 48 equal monthly installments of $11,432.34 and

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You have just taken out an amortized loan for $444,000. Assume that the loan will be paid in 48 equal monthly installments of $11,432.34 and that the first payment will be due 1 month from today. How much of your third monthly payment will go toward the repayment of principal? Fill in the worksheet below. Interest Owing at End of Month ($) Principal Principal Owing Repayment ($) at End of Month ($) Month 1 2 3 Interest Owing at End of Month Principal Repayment Principal Owing at End of Month Month 1 (Round to the nearest cent.) Interest Owing at End of Month Principal Repayment Principal Owing at End of Month Month 2 (Round to the nearest cent.) Interest Owing at End of Month Principal Repayment Principal Owing at End of Month Month 3 (Round to the nearest cent.)

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