core: 0.15 of 1 pt Hw Score: 28%, 1.4? Bus Econ 3.6.17 portion applied to princi

Question

core: 0.15 of 1 pt Hw Score: 28%, 1.4? Bus Econ 3.6.17 portion applied to principal, subtract the portion applied to interest from the monthly payment. To find the new balance, subtract the portion applied to interest from the Place the monthly payment under the payment column. To find the portion applied to interest, multiply the balance by the monthly interest rate. To find the portion applied to principal, subtract the portion applied to interest from the monthly payment. To find the new balance, subtract the portion applied to principa C Pa to two decimal places as

Explanation / Answer

Statement showing amortisation schedule

Towards Month Opening balance Payment Interest @ 0.65%( 0.65% of opening amount) Principal( Installment less interest) Closing balance 1 18950 293 123 170 18780 2 18780 293 122 171 18608

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