QUESTION 1 C

Number of months

payement
0
1
2
3
4
5
6
7
8
9
10
11
12

P=
i=
n=
payment=

interest paid
$1,467.63
$1,467.63
$1,467.63
$1,467.63
$1,467.63
$1,467.63
$1,467.63
$1,467.63
$1,467.63
$1,467.63
$1,467.63
$1,467.63

10000
0.1
12
$1,467.63

1000
$953.24
$901.80
$845.21
$782.97
$714.51
$639.19
$556.35
$465.22
$364.98
$254.71
$133.42

principle paid
$467.63
$514.40
$565.84
$622.42
$684.66
$753.13
$828.44
$911.28
$1,002.41
$1,102.65
$1,212.92
$1,334.21

end balance
10000
$9,532.37
$9,017.97
$8,452.13
$7,829.71
$7,145.05
$6,391.92
$5,563.48
$4,652.20
$3,649.79
$2,547.13
$1,334.21
($0.00)