The complete of the interest table is as follows:
Principal Annual Interest First Period Amount Second Period Amount
Interest Period Interest Interest
$900 6% Quarterly $13.50 $913.50 $13.70 $927.20
$400 6% Monthly $2.00 $402.00 $2.01 $404.01
$2,360 4
Semi-annual $53.10 $2,413.10 $54.29 $2,467.39
$18,260 2.5% Quarterly $114.13 $18,374.13 $114.84 $18,488.97
$27,721 9.513% Annually $2,637.10 $30,358.10 $2,887.97 $33,246.07
$45,687.23 7.535% Monthly $286.88 $45,974.11 $288.68 $46,262.79
The interest table is computed as follows:
The first period interest is the multiplication of the principal by the interest rate divided by the interest period. The second period interest follows the above step with the principal replaced by the first period amount.
1) $900:
Second Period Interest = $13.70 ($913.50 x 6% x 1/4)
Second Amount = $927.20 ($913.50 + $13.70)
2) $400:
Second Period Interest = $2.01 ($402.00 x 6% x 1/12)
Second Amount = $404.01 ($402.00 + $2.01)
3) $2,360:
Amount = $2,413.10 ($2,360 + $53.10)
Second Period Interest = $54.29 ($2,413.10 x 4.5% x 1/2)
Second Amount = $2,467.39 ($2,413.10 + $54.29)
4) $18,260:
First Period Interest = $114.13 ($18,260 x 2.5% x 1/4)
First Amount = $18,374.13 ($18,260 + $114.13)
Second Period Interest = $114.84 ($18,374.13 x 2.5% x 1/4)
Second Amount = $18,488.97 ($18,374.13 + $114.84)
5) $27,721:
First Period Interest = $2,637.10 ($27,721 x 9.513%)
First Amount = $30,358.10 ($27,721 + $2,637.10)
Second Period Interest = $2,887.97 ($30,358.10 x 9.513%)
Second Amount = $33,246.07 ($30,358.10 + $2,887.97 )
6) $45,687.23:
First Period Interest = $286.88 ($45,687.23 x 7.535% x 1/12)
First Amount = $45,974.11 ($45,687.23 + $286.88)
Second Period Interest = $288.68 ($45,974.11 x 7.535% x 1/12)
Second Amount = $46,262.79 ($45,974.11 + $288.68)