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# CMMPS1 - Zainab Nejati Problem Set Calculate Interest on...

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Zainab Nejati 1/30/2006 Problem Set #! Calculate Interest on Your Student Loan Annual Interest Rate (Decimal) 30% Interest Per Month 0.03 Number of Months of Payment 60 Amount of Loan 30000 Monthly Payment (\$970.60) Calculate Interest of Your Student Loan Annual Interest Rate (Percentage) 30% Interest Per Month 0.03 Number of Months of Payment 60 Amount of Loan 30000 Monthly Payment \$970.60

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Interest (Monthly) 0.03 Monthly Payment \$970.60 Calculating Remaining Principal on Loan Month Principal Remaining Interest Amount Payment Gong Towards Reducing Principal 0 \$30,000.00 \$0.00 \$0.00 1 \$29,779.40 \$750.00 \$220.60 2 \$29,553.28 \$744.48 \$226.12 3 \$29,321.51 \$738.83 \$231.77 4 \$29,083.95 \$733.04 \$237.56 5 \$28,840.44 \$727.10 \$243.50 6 \$28,590.85 \$721.01 \$249.59 7 \$28,335.02 \$714.77 \$255.83 8 \$28,072.80 \$708.38 \$262.23 9 \$27,804.01 \$701.82 \$268.78 10 \$27,528.51 \$695.10 \$275.50 11 \$27,246.12 \$688.21 \$282.39 12 \$26,956.68 \$681.15 \$289.45 13 \$26,659.99 \$673.92 \$296.68 14 \$26,355.89 \$666.50 \$304.10 15 \$26,044.18 \$658.90 \$311.70 16 \$25,724.69 \$651.10 \$319.50 17 \$25,397.20 \$643.12 \$327.48 18 \$25,061.53 \$634.93 \$335.67 19 \$24,717.47 \$626.54 \$344.06 20 \$24,364.80 \$617.94 \$352.67 21 \$24,003.32 \$609.12 \$361.48 22 \$23,632.80 \$600.08 \$370.52 23 \$23,253.02 \$590.82 \$379.78 24 \$22,863.74 \$581.33 \$389.28 25 \$22,464.73 \$571.59

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