Beth has just borrowed $11,500 on a? four-year loan at 88?% simple interest. Complete the amortization? table, for the first five months of the loan.
a. The beginning balance of the loan for month 2 is: (Round to the nearest? cent.)
b. The amount applied to principal in month 2 is: (Round to the nearest? cent.)
c. The amount of the monthly payment is: (Round to the nearest? cent.)
d. The amount applied to interest in month 3 is: ?(Round to the nearest? cent.)
e. The amount applied to interest in month 4 is: (Round to the nearest? cent.)
f. For month? 4, with a beginning balance of $10,883.67, the new balance is: (Round to the nearest? cent.)
g. The amount applied to principal in month 5 is ?(Round to the nearest? cent.)
h. For month? 5, with a beginning balance of $10,675.48?, and the amount applied to principal of $209.58, the new balance is ?(Round to the nearest? cent.)