Carla borrowed $1002.00 from the Merchant Bank at 8.4% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $220.00 per month. Construct a complete...


Carla borrowed $1002.00 from the Merchant Bank at 8.4% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $220.00 per month. Construct a complete repayment schedule for the loan including totals<br>Amount Paid, Interest Paid, and Principal Repaid.<br>Complete the repayment schedule below. (Round to the nearest cent as needed.)<br>Payment Number<br>Balance Before Payment<br>Amount Paid<br>Interest Paid<br>Principal Repaid<br>Balance After Payment<br>$1002.00<br>1<br>$1002.00<br>$220.00<br>2<br>$220.00<br>$<br>3<br>$220.00<br>$<br>$<br>4<br>$<br>$220.00<br>%$4<br>%$4<br>$0.00<br>Totals:<br>$1<br>$<br>

Extracted text: Carla borrowed $1002.00 from the Merchant Bank at 8.4% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $220.00 per month. Construct a complete repayment schedule for the loan including totals Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent as needed.) Payment Number Balance Before Payment Amount Paid Interest Paid Principal Repaid Balance After Payment $1002.00 1 $1002.00 $220.00 2 $220.00 $ 3 $220.00 $ $ 4 $ $220.00 %$4 %$4 $0.00 Totals: $1 $

Jun 08, 2022
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