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How do calculate the total interest paid

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Reference no: EM132604502

Question 1: Monica bought a $1600 4K Ultra HD TV for 10% down, with the balance to be paid with interest at 15% compounded monthly in six equal monthly payments. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.)

  1. Payment number
  2. Payment
  3. Interest portion
  4. Principal portion
  5. Principal balance $1440.00

Reference no: EM132604502

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