Use an amortization table to solve the problem. Round to the nearest cent.
-The monthly payments on a $\$ 90,000$ loan at $11 \%$ annual interest are $\$ 1023.30$. How much of the first monthly payment will go toward the principal?
A) $\$ 198.30$
B) $\$ 910.74$
C) $\$ 825.00$
D) $\$ 112.56$

Question

Quizplus · Accepted Answer

The correct answer is A because the first monthly payment will go toward the principal is $198.30.

Use an Amortization Table to Solve the Problem $90,000\$ 90,000$90,000 Loan At

Use an Amortization Table to Solve the Problem $\$ 90,000$ Loan At