Determine what interest is paid in the last month

Reference no: EM13245021

A newly graduated engineer bought furniture for $900 from a local store. Monthly payments for l year will be made. Interest is computed at a nominal rate of 6%. Build the table that shows the balance due, principal payment, and interest payment for each payment. What is the monthly payment? What interest is paid in the last month?

Reference no: EM13245021

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