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Imagine you take out a loan for $2000 at a 6% APR compounded monthly. You...

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Finance

Imagine you take out a loan for $2000 at a 6% APR compounded monthly. You decide that you will pay back $100 of your $2000 loan each moth, plus the interest that accrues.
In month 1, you pay back $...... of principal and $....... of interest.
In month 2, you pay back $...... of principal plus the interest on $2000 minus $100= $..... The amount of interest you pay this month is $...

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