Answered

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Find the total interest paid after the May payment using the excerpt from the Amortization Table below.
Payment Principal Interest Total
Interest
$281.25 $281.25
$280.15 $561.40
$279.05 $840.46
$277.95 $1,118.40
$276.84 $1,395.24
Date
4/1/2017 $573.74 $292.49
5/1/2017 $573.74 $293.59
6/1/2017 $573.74 $294.69
7/1/2017 $573.74 $295.80
8/1/2017 $573.74 $296.91
Balance
$74,707.51
$74,413.91
$74,119.22
$73,823.42
$73,526.52

Sagot :

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