ACCOUNTING-Each of the following scenarios is independent

(d)

Period
Beginning
Balance
Interest
(Beginning Balance X 1.5%)
Amount of Payment
Principal Reduction
(payment minus interest)
Ending
Balance

1
############
$
18,000.00
$
69,894.88
$
51,894.88
$
1,148,105.12

2

1,148,105.12

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

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