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Tanya Cordobes borrowed $9,500 from a bank. The loan was amortized over two years. Tanya made equal ...

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Tanya Cordobes borrowed $9,500 from a bank. The loan was amortized over two years. Tanya made equal ...

Tanya Cordobes borrowed $9,500 from a bank. The loan was amortized over two years. Tanya made equal monthly payments of $434.00, which included interest on the unpaid balance of 0.75% per month (9% annually). Complete the first two months of the amortization schedule.

			Amortization Schedule

		Unpaid	Interest	Total	Principal	New
	Month	Balance	Payment	Payment	Payment	Balance
a.	1	_________	_________	$434.00	_________	_________
b.	2	_________	_________	$434.00	_________	_________

Textbook

Contemporary Business Mathematics for Colleges

Edition: 16^th

Authors: Deitz, Southam

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