Respuesta :
Answer:
Each payment for January will receive a dollar amount of $1,204
$750 is the total Interest amount included in the first payment
Repayment of principal amount is shown in below mentioned table .
Period Beginning balance Payment Interest Payment of principal Ending Balance
1 15,000 1,204 750 454 14,546
2 14,546 1,204 727 476 14,070
3 14,070 1,204 704 500 13,570
4 13,570 1,204 678 525 13,045
5 13,045 1,204 652 551 12,493
6 12,493 1,204 625 579 11,914
7 11,914 1,204 596 608 11,306
8 11,306 1,204 565 638 10,668
9 10,668 1,204 533 670 9,998
10 9,998 1,204 500 704 9,294
11 9,294 1,204 465 739 8,555
12 8,555 1,204 428 776 7,779
13 7,779 1,204 389 815 6,965
14 6,965 1,204 348 855 6,109
15 6,109 1,204 305 898 5,211
16 5,211 1,204 261 943 4,268
17 4,268 1,204 213 990 3,278
18 3,278 1,204 164 1,040 2,238
19 2,238 1,204 112 1,092 1,146
20 1,146 1,204 57 1,146 0
The portion of the payment that is applied to interest declines, while the portion of the payment that is applied to principal increases.Value change for second period is shown as under:
Period Beginning balance Payment Interest Payment of principal
1 15,000 1,203.65 750.00 453.65
2 14,546.35 1,203.65 727.32 476.33
Interest reported for first year is $1,477
No,interest will not be same next year.
As the loan is amortized (paid off), the beginning balance,hence the interest charge, declines and the repayment of principal increases
