U1: 56: 24
the following table shows a portion of a five-year amortization schedule.
5 year amortization schedule
loan amount or principal
interest rate on loan
extra payment to principal
$ 10,900.00
10.95%
month payment principal
15 $ 236.72 $ 155.87 $
16 $ 236.72 $
157.29 $
171 $ 236.72 $
158.73 $
18 $ 236.725 160.18 $
19 s 236.72 s 161.64 $
20 $ 236.72 s
1 63.11 $
interest balance
80.85 $ 8.704 27
79.43 $ 8.546.98
77.99 $ 8,388.25
76.54 $ 8.228.07
75.08 $ 8,066.43
73.61 $ 7,903.32
what percent of the payments made were due to interest for the months shown?
30.9%
b. 32.6%
c. 62.5%
d. 63.4%
mark this and return
save and exit
next
submit