Joseph used the Quantitative Reasoning Procees to create a plan to pay off his student loans of $7,680. The interest rate on his loan is 2.9% annually and he plans to make monthly payments of $73.80...


Joseph used the Quantitative Reasoning Procees to create a plan to pay off his student loans of $7,680. The interest rate on his loan is 2.9% annually and he plans to make monthly payments of $73.80 for 10 years. Complete months 1 and 2 of the amortization table below.


How much of Joseph's payment goes to Interest in Month 2?


































Month

Beginning Balance

Payment: To Interest

Payment: To Principal

Ending Balance
1
2??
3


(Round your FINAL answer to the nearest cent.)


$



Jun 09, 2022
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