A $2044 loan had monthly payments of $418 with 7% annual interest on the unpaid balance each month. Constructing a repayment schedule would show the amount paid, interest paid, and principal repaid each month until the loan is fully repaid.
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Blended payments on a $2044.00 loan were $418.00 per month. Interest .pdf
1. Blended payments on a $2044.00 loan were $418.00 per month. Interest was charged at 7% per
annum calculated on the monthly unpaid balance. Construct a complete repayment schedule for
the loan including totals for Amount Paid, Interest Paid, and Principal Repaid. Complete the
repayment schedule below. (Round to the nearest cent as needed.)