In: Accounting
APR = 15.99%
Carry-Over balance for month 1 = $793.16
Minimum payment is $50 or 8%, whichever is greater
Payment Schedule | |||||||
No. | Rate | Payment |
Extra Payment |
Total Payment |
Interest Paid |
Principal Paid |
Balance |
0 | 793.16 | ||||||
1 | 15.99% | 63.45 | 63.45 | 10.57 | 52.88 | 740.28 | |
2 | 15.99% | 59.22 | 59.22 | 9.86 | 49.36 | 690.92 | |
3 | 15.99% | 55.27 | 55.27 | 9.21 | 46.07 | 644.85 |