Use an Amortization Table to Solve the Problem

question 46

Multiple Choice

Use an amortization table to solve the problem. Round to the nearest cent.
-The monthly payments on a $73,000 loan at 13% annual interest are $807.38. How much of the first monthly payment will go toward the principal?

• A) $104.96
• B) $790.83
• C) $16.55
• D) $702.42

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