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Use the amortization table to determine how much of the 10th payment is interest. The interest amount of the  10th payment is ​$              enter your response here

Use the amortization table to determine how much of the 10th payment is interest. The interest amount of the  10th payment is ​$              enter your response here

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Use the amortization table to determine how much of the 10th payment is interest. The interest amount of the  10th payment is ​$              enter your response here

Payment Number Amount of Payment 0- 1 $378.24 2 $378.24 3 $378.24 4 $378.24 5 $378.24 6 $378.24 7 $378.24 8 $378.24 9 $378.24 10 $378.24 11 $378.24 12 $378.24 Amortization Table Interest for Period $80.00 $74.04 $67.95 $61.75 $55.42 $48.96 $42.37 $35.66 $28.80 $21.82 $14.69 $7.42 Portion to Principal - $298.24 $304.20 $310.29 $316.49 $322.82 $329.28 $335.87 $342.58 $349.44 $356.42 $363.55 $370.82 Principal at End of Period $4000.00 $3701.76 $3397.56 $3087.27 $2770.78 $2447.96 $2118.68 $1782.81 $1440.23 $1090.79 $734.37 $370.82 $0.00
Transcribed Image Text:Payment Number Amount of Payment 0- 1 $378.24 2 $378.24 3 $378.24 4 $378.24 5 $378.24 6 $378.24 7 $378.24 8 $378.24 9 $378.24 10 $378.24 11 $378.24 12 $378.24 Amortization Table Interest for Period $80.00 $74.04 $67.95 $61.75 $55.42 $48.96 $42.37 $35.66 $28.80 $21.82 $14.69 $7.42 Portion to Principal - $298.24 $304.20 $310.29 $316.49 $322.82 $329.28 $335.87 $342.58 $349.44 $356.42 $363.55 $370.82 Principal at End of Period $4000.00 $3701.76 $3397.56 $3087.27 $2770.78 $2447.96 $2118.68 $1782.81 $1440.23 $1090.79 $734.37 $370.82 $0.00
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