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Understanding Amortization Janet just graduated from college, has a job she's scheduled to begin in 3 months, and has decided to treat herself to 6 weeks of travel across South America before she buckles down and starts working full time. To do the trip, she's thinking of applying for a personal loan of $3500, and the bank she uses for her checking and savings account has offered her an interest rate of 24%. She has a goal of paying off the trip within two years, so she uses a Bankrate.com loan calculatore and gets the following amortization schedule: vre Freel dance Tot Interwet Peyman Delo Jan 2021 Peyman $185.05 $115.05 $70.00 $70.00 $3,384.95 $185.05 $117.35 Feb 2021 $67.70 $137.70 $3,267.60 $185.05 $119.70 Mar 2021 $65.35 $203.05 $3,147.90 $185.05 $122.09 Apr 2021 $62.96 $266.01 $3,025,81 $185.05 $124.53 $60.52 $326.53 May 2021 $2,901.28 $185.05 Jun 2021 $127.02 $58.03 $384.55 $2,774.26 $185.05 Jul 2021 $129.56 $55.49 $440.04 $2,644,69 $185.05 $132.15 Aug 2021 $52.89 $492.93 $2,512.54 $185.05 $134.80 Sep 2021 $50.25 $543.18 $2,377.74 Oct 2021 $185.05 $137.49 $47.55 $590.74 $2.240.25 Nov 2021 $185.05 $140.24 $44.80 $635.54 $2,100.00 Deo 2021 $185.05 $143.05 $42.00 $677,54 $1956.95 Jan 2022 $185.05 $145.91 $39.14 S716.68 $1,811.04 Feb 2022 $185.05 8148.83 $36.22 $752.90 $1,662.22 Mar 2022 $185.05 $151.80 $33.24 $786115 $1,510.41 Apx 2022 $185.05 $154.84 $30.21 $816,35 $1.355 57 May 2022 $185.05 $157.94 $27.11 3843.46 $1.197.63 Jun 2022 $185,05 $161.10 $23.95 8867 42 $1,036.54 $185.05 $164.32 $20.73 $888.15 $871,22 $185.05 $167.60 $17.44 8905.59 $704.62 Jul 2022 Aug 2022 Sep 2022 Oct 2022 $185.05 $170.96 $14.09 $919.68 $533.66 $185.05 $174.38 $10,67 $930.36 $359.28 Nov 2022 $185.05 $177.86 $7.19 $937.54 $181.42 Dec 2022 $185.05 $181.42 $3.63 $941.17 $0.00

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