Barbara borrowed $12 000.00 from the bank at 9% compounded monthly.The loan is amortized with end-of-month payments over five years.
a)Calculate the interest included in the 20^th payment.
b)Calculate the principal repaid in the 36^th payment.
c)Construct a partial amortization schedule showing the details of the first two payments,the 20^th payment,the 36^th payment,and the last two payments.
d)Calculate the totals of amount paid,interest paid,and the principal repaid.

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The Answer of Barbara borrowed $12 000.00 from the bank at 9% compounded monthly.The loan is amortized with end-of-month payments over five years. a)Calculate the interest included in the 20^th payment. b)Calculate the principal repaid in the 36^th payment. c)Construct a partial amortization schedule showing the details of the first two payments,the 20^th payment,the 36^th payment,and the last two payments. d)Calculate the totals of amount paid,interest paid,and the principal repaid.

Barbara Borrowed $12 000