Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Monica bought a $2,200 4K Ultra HD TV for 20% down, with the balance to be paid with interest at 16% compounded monthly in six
equal monthly payments. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not round
Intermedlate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certaln to enter "O" wherever
required.)
Рayment
number
Interest
Principal
portion
Principal
balance
$1,760.90
1324.67
1044.58
761.69
475.97
187.39
104.07
Раyment
portion
--
293.33
293.33
17.60
275.33
280.09
13.24
10.44
12
293.33
282.89
285.72
288.58
291.46
4
293.33
293.33
293.33
7.61
4.75
1.87
Total interest
55.51
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Graw
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