What is the interest for loan A, loan B, loan C, and loan D for each month Janua

Question

What is the interest for loan A, loan B, loan C, and loan D for each month January- December? ing balance has an interest charge at 1 1.3% APR For the loans in the popup window , all wit Data Table Balance Loan A $22,700 $31,644 $16,451 $24,296 $31,209 $48,523 $37 802 $28,036 $23,853 $24,557 $27,889 December$18,144 Balance Loan B $68,990 $82,236 $96,445 $45,978 $13,587 Balance Loan C 0 Balance Loan D $54,344 Month January February March April May June July $40,747 $98,655 S92,853 $95,817 $60,373 $54,666 $79,732 $65,838 $48,410 $46,033 September $22,247 $36,306 $48,533 $55,929 $36,911 $22,294 October Print Done Clear Al

Explanation / Answer

The interest calculation for loan A, loan B, loan C, and loan D for each month from January to December.

The interest is calculated on outstanding balance of the month at monthly interest rate of 0.94%

Interest rate (APR) = 11.30% Interest rate (monthly) = APR/12 = 0.94% Month Outstanding Balance Loan A Interest @ 0.94% on outstanding balance of loan A Outstanding Balance Loan B Interest @ 0.94% on outstanding balance of loan B Outstanding Balance Loan C Interest @ 0.94% on outstanding balance of loan C Outstanding Balance Loan D Interest @ 0.94% on outstanding balance of loan D January $22,700 $213.76 $68,990 $649.66 $0 $0.00 $54,344 $511.74 February $31,644 $297.98 $82,236 $774.39 $0 $0.00 $0 $0.00 March $16,451 $154.91 $96,445 $908.19 $0 $0.00 $40,747 $383.70 April $24,296 $228.79 $45,978 $432.96 $98,655 $929.00 $0 $0.00 May $31,209 $293.88 $13,578 $127.86 $92,853 $874.37 $79,732 $750.81 June $48,523 $456.92 $0 $0.00 $95,817 $902.28 $0 $0.00 July $37,802 $355.97 $0 $0.00 $60,373 $568.51 $65,838 $619.97 August $28,036 $264.01 $0 $0.00 $54,666 $514.77 $0 $0.00 September $23,853 $224.62 $22,247 $209.49 $36,911 $347.58 $48,410 $455.86 October $24,557 $231.25 $36,306 $341.88 $22,294 $209.94 $0 $0.00 November $27,889 $262.62 $48,533 $457.02 $0 $0.00 $46,033 $433.48 December $18,144 $170.86 $55,929 $526.66 $0 $0.00 $0 $0.00

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