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Home Q & A Board Science-Related Homework Help Mathematics
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cng cng
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A year ago
Monica bought a $1250 stereo system for 20% down and payments of $200 per month (except for a smaller final payment) including interest at 15% compounded monthly. Complete the amortization schedule below. Calculate the total interest charges.

PMT #Payment ($)Interest ($)Principal Reduction ($)Balance ($)
0---
1200.00812.50
2200.0010.16189.84622.66
3200.007.78192.22430.44
4200.005.38194.62235.82
5200.002.95197.0538.77
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Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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daddyb1daddyb1
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A year ago
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