Use an Amortization Table to Solve the Problem

question 42

Multiple Choice

Use an amortization table to solve the problem. Round to the nearest cent.
-The monthly payments on a $76,000 loan at 12% annual interest are $836.76. How much of the first monthly payment will go toward interest?

• A) $100.41
• B) $736.35
• C) $760.00
• D) $912.00

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