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For the following loan, make a table showing the amount of each monthly payment that...

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Accounting

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For the following loan, make a table showing the amount of each monthly payment that goes toward principal and interest for the first three months of the loan. A home mortgage of $145,000 with a fixed APR of 3% for 30 years. Assume you have a balance of $1600 on a credit card with an APR of 21%, or 1.75% per month. You start making monthly payments of $200, but at ine same time you charge an additional $30 per month to the credit card. Assume that interest for a given month is based on the balance for the previous month. The following tabie shows how you can calculate your monthly balance. Complete and extend the table to show the balance at the end of each month until the debt is pad ot. How long does it take to pay ofl the credit card debt? Fi (F

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