Four year loan-beginning balance of the loan

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Reference no: EM131992532

Beth has just borrowed $11,500 on a? four-year loan at 88?% simple interest. Complete the amortization? table, for the first five months of the loan.

a. The beginning balance of the loan for month 2 is: (Round to the nearest? cent.)

b. The amount applied to principal in month 2 is: (Round to the nearest? cent.)

c. The amount of the monthly payment is: (Round to the nearest? cent.)

d. The amount applied to interest in month 3 is: ?(Round to the nearest? cent.)

e. The amount applied to interest in month 4 is: (Round to the nearest? cent.)

f. For month? 4, with a beginning balance of $10,883.67, the new balance is: (Round to the nearest? cent.)

g. The amount applied to principal in month 5 is ?(Round to the nearest? cent.)

h. For month? 5, with a beginning balance of $10,675.48?, and the amount applied to principal of $209.58, the new balance is ?(Round to the nearest? cent.)

Reference no: EM131992532

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