Use an Amortization Table to Solve the Problem

question 15

Short Answer

Use an amortization table to solve the problem. Round to the nearest cent.
-You have agreed to pay off a $8,000 loan in 30 monthly payments of $298.79 per month. The interest rate of the
loan is 0.75% per month on the unpaid balance. What is the unpaid balance after 12 monthly payments have
been made?

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